: Investors use these ratings to gauge the risk of default before buying bonds or debt instruments. Higher-rated entities can generally borrow money at lower interest rates. Credit Rating Scale Tiers Agencies divide their scales into two primary categories:

: The global market is dominated by three major agencies: S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings . Together, they hold approximately 95% of the market share.

A is an independent, letter-graded assessment of the creditworthiness of a business or government entity. It serves as a measure of an obligor's ability and willingness to meet its financial obligations, such as bond interest and principal payments, in full and on time. Key Characteristics