The highest category; indicates a very high likelihood that principal and interest will be paid on a timely basis.
BRC 1
The second-highest category; while the degree of safety regarding timely repayment of principal and interest is very strong, the relative degree of safety is not as high as for issues rated BRC-1+.
BRC 2+
The third-highest category; while the degree of safety regarding timely repayment of principal and interest is strong.
BRC 2
The fourth-highest category; while the degree of safety regarding timely repayment of principal and interest is satisfactory.
BRC 3
The lowest investment-grade category; indicates that while the obligation is more susceptible to adverse developments (both internal and external) than those with higher ratings, the capacity to service principal and interest in a timely fashion is considered adequate.
Non Investment grade
BRC 4
This rating is regarded as non-investment grade and therefore speculative .
