Credit Rating Breakdown: BBB

Credit quality ratings, as determined by Standard & Poor’s or Moody’s, are assigned on a descending scale of AAA, AA, A, BBB, BB, B, Below B, and Not Rated. For the purpose of Morningstar's calculations, US government bonds are considered AAA. For municipal bonds, anything at or below BBB is considered a high-yield or junk bond. Nonrated municipal bonds generally are classified as BBB. Other nonrated bonds generally are considered B.