Non-investment grade

A rating attributed to a security that is deemed speculative (less certain in respect of the preservation of the capital invested) in the opinion of a credit rating agency such as Fitch Ratings, Moody’s or Standard and Poor’s.

Non-investment grade represents credit ratings which are weaker than investment grade.

Also known as 'speculative' grade.

See also

• Credit rating
• Fallen angel
• Investment grade
• Rating agencies