A bond rating assigned to a somewhat speculative debt instrument. A BB rating reflects an opinion that that the issuer has the current capacity to meet its debt obligations but faces more solvency risk than an A-rated issue and less than a BBB-rated issue if business, financial, or economic conditions change measurably. bond investors rely on bond ratings from organizations like Standard and Poor's, Moody's Investors Service, and Fitch ratings to evaluate the default risk associated with both corporate bonds and municipal bonds. Compare to AAA rating, BBB rating, B Rating; junk bond.
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