Moody's: Sovereign Ratings List
| Grade | Moody's Long Term | Moody's Short Term |
|---|---|---|
| Prime | Aaa | P-1 |
| High grade | Aa1 | |
| Aa2 | ||
| Aa3 | ||
| Upper medium grade | A1 | |
| A2 | ||
| A3 | P-2 | |
| Lower medium grade | Baa1 | |
| Baa2 | P-3 | |
| Baa3 | ||
| Non-investment grade speculative |
Ba1 | |
| Ba2 | ||
| Ba3 | ||
| Highly speculative | B1 | |
| B2 | ||
| B3 | ||
| Substantial risks | Caa1 | |
| Extremely speculative | Caa2 | |
| In default with little prospect for recovery |
Caa3 | |
| Ca | ||
| In default | C | |