Credit Rating
(if split ratings, use lower rating)

% of stockholder equity

S&P

Moody's

AAA

Aaa2

3.00%

AAA-

Aaa3

3.00%

AA+

Aa1

2.95%

AA

Aa2

2.85%

AA-

Aa3

2.70%

A+

A1

2.55%

A

A2

2.35%

A-

A3

2.10%

BBB+

Baa1

1.80%

BBB

Baa2

1.40%

BBB-

Baa3

0.70%

Below BBB-

Below Baa3

Must use another form of security