Moody's or S&P or an internationally recognised securities rating agency which shall be substituted for S&P or Moody's or both
In the insurance industry, an independent organization that evaluates the financial condition of insurers and provides information to potential customers of and investors in insurance companies
An organization that assesses and issues opinions regarding the relative credit quality of bond issues The three major municipal bond rating agencies are Fitch Investors Service, Moody's Investors Service, and Standard and Poor's