S&P AAA→NAIC-1, A→NAIC-1/2 boundary at A-, BBB→NAIC-2, BB→NAIC-3, B→NAIC-4, CCC→NAIC-5, D→NAIC-6
| source | NAIC P&P Manual |
| derivation | published_source |
| quality | published |
| regulatory frameworks | NAIC P&P Manual |
| set | 2026-05-25 |
| last reviewed | 2026-05-25 |
| next review due | 2026-06-30 |
Used for NAIC class assignment from NRSRO rating; SVO modifications apply per security.