Sub-investment grade

1. Credit ratings - bonds - securities.

Sub-investment grade is a range of ratings attributed to a bond (or other security) that is assessed as being speculative (less certain in respect of the preservation of the capital invested) in the opinion of a credit rating agency.

Sub-investment grade is also known as 'non-investment' grade, 'speculative' grade, or sometimes 'spec' grade.

2. Credit ratings - issuers.

A similar general evaluation of an issuer, rather than a particular security.

See also

• Bond
• Capital
• Corporate credit ratings: a quick guide
• Credit rating
• Credit rating agency (CRA)
• Fitch
• Investment grade
• Moody's
• S&P
• Security
• Sub-investment grade bond