Credit Ratings

R&I
  1. Short-Term (Issuer Credit) Ratings: a-1+
  2. Commercial Paper Program Ratings: a-1+
  3. (Long-Term) Issuer (Credit) Ratings: AA- (Outlook Stable)
  4. Long-Term Issue Ratings: AA- (Outlook Stable)
  5. Medium-Term Note Program Ratings: AA- (Outlook Stable)
Moody's
  1. Short-Term (Issuer Credit) Ratings: P-2
  2. Commercial Paper Program Ratings: P-2
  3. (Long-Term) Issuer (Credit) Ratings: -
  4. Long-Term Issue Ratings: A3 (Outlook Negative)
  5. Medium-Term Note Program Ratings: A3 (Outlook Negative)
S&P
  1. Short-Term (Issuer Credit) Ratings: A-1
  2. Commercial Paper Program Ratings: A-1
  3. (Long-Term) Issuer (Credit) Ratings: A (Outlook Negative)
  4. Long-Term Issue Ratings: -
  5. Medium-Term Note Program Ratings: A (Outlook Negative)

Reference Site

Credit ratings are an assessment by the rating agencies of the credit risks associated with us and are based on information provided by us and other sources that the rating agencies consider reliable. Lower ratings generally result in higher borrowing costs and reduced access to capital markets. Credit ratings do not constitute a recommendation to buy, sell or hold securities and are subject to change or withdrawal by each of the rating agencies at any time. As rating agencies may have different criteria in evaluating the risk associated with a company, you should evaluate each rating independently of other ratings. Ratings may be changed without pre-notice at any time.