Bank Jacob Safra Swizerland - Products

The following is a short description of the ratings available to bond issuers by the 2 major rating agencies (Standard and Poors and Moodies):

Standard & Poor's has the following ratings:
Bonds of BBB or greater are refereed to as 'Investment Grade'. Additionally, Standard & Poor's will use either a + sign or a - sign t indicate relative strength inside the category. For instance, AAA+ indicates that this bond is at the high end of the AAA category.

Glossary:

Bonds of the highest quality

High quality debt obligations

Bonds that have a strong capacity to pay interest and principal but may be susceptible to adverse effects

Bonds that have an adequate capacity to pay interest and principal but are more vulnerable to adverse economic conditions or changing circumstances.

Bonds of lower medium grade with few desirable investment characteristics

Primarily speculative bonds with great uncertainties and major risk if exposed to adverse conditions.

Bonds in poor standing that may be defaulted

Income bonds on which no interest is being paid

Bonds in default