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The second-highest bond rating by S&P and Fitch. AA is subdivided (in decreasing order) into AA+, AA, and AA-. Bonds with AA ratings are investment-grade, meaning that banks are allowed to hold them. AA bonds are low-risk and low-return. The rating is equivalent to an Aa rating by Moody's.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A grade assigned to a debt obligation by a rating agency to indicate a very strong capacity to pay interest and repay principal. Such a rating indicates only slightly lower quality than the top rating of AAA. Also called Aa.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.