Home › Ratings › Rating Scales > Credit Quality Rating Scale
CRISIL Rating Symbols Credit quality ratings for Debt Fund Portfolios
A credit quality rating on a debt fund is an opinion on the credit quality of the debt securities that the fund holds. These ratings are assigned only to funds that invest entirely or almost entirely in debt.

Long-term ratings are assigned to open-ended funds (funds that do not have a defined maturity date) and to funds that have an original contracted maturity of more than one year from the date of assignment of the rating. Short-term ratings are assigned to funds that have an original contracted maturity of one year or less, from the date of the assignment of the rating.
Long-Term Ratings
AAAf
The fund's portfolio holdings provide very strong protection against losses from credit defaults.
AAf
The fund's portfolio holdings provide strong protection against losses from credit defaults.
Af
The fund's portfolio holdings provide adequate protection against losses from credit defaults.
BBBf
The fund's portfolio holdings provide moderate protection against losses from credit defaults.
BBf The fund's portfolio holdings provide uncertain protection against the losses from credit defaults.
Bf The fund's portfolio holdings exhibit vulnerability to losses from credit defaults.
Cf
The fund's portfolio holdings make it extremely vulnerable to losses from credit defaults.
Short-Term Ratings
P1f
The fund's portfolio holdings provide very strong protection against losses from credit defaults.
P2f
The fund's portfolio holdings provide strong protection against losses from credit defaults.
P3f
The fund's portfolio holdings provide adequate protection against losses from credit defaults.
P4f
The fund's portfolio holdings provide minimal protection against losses from credit defaults.
Note:
The ratings from 'AAf' to 'Cf' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the rating categories.