BB: more prone to changes in the economy B: financial situation varies noticeably CCC: currently vulnerable and dependent on favorable economic conditions to meet its commitments CC: highly vulnerable, very speculative bonds C: highly vulnerable, perhaps in bankruptcy or in arrears, but still continuing to pay out on obligations D: has defaulted on obligations, and Fitch believes that it will generally default on most or all obligations NR: not publicly rated Short-term credit ratings Fitch's short-term ratings indicate the potential level of default within a 12-month period. F1+ : best quality grade, indicating exceptionally strong capacity of obligor to meet its financial commitment F1 : best quality grade, indicating strong capacity of obligor to meet its financial commitment F2 : good quality grade with satisfactory capacity of obligor to meet its financial commitment F3 : fair quality grade with adequate capacity of obligor to meet its financial commitment but near term adverse conditions could impact the obligor's commitments B : of speculative nature and obligor has minimal capacity to meet its commitment and vulnerability to short term adverse changes in financial and economic conditions C : possibility of default is high and the financial commitment of the obligor are dependent upon sustained, favorable business and economic conditions D : the obligor is in default as it has failed on its financial commitments. Fitch Solutions Launched in 2008, Fitch Solutions offers a range of fixed-income products and professional development services for financial professionals. The firm also distributes Fitch Ratings' proprietary credit ratings, research, financial data, and analytical tools. Criticism The main credit rating agencies, including Fitch, were accused of misrepresenting the risks associated with mortgage-related securities, which included the CDO market. There were large losses in the collateralized debt obligation (CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated AAA by Fitch. However, differently from the other agencies, Fitch has been warning the market on the constant proportion debt obligations (CPDO) with an early and pre-crisis report highlighting the dangers of CPDO's. See also FIMALAC Kroll Bond Rating Agency List of countries by credit rating Moody's Investors Service Spread Research Standard and Poor's References External links Fitch Ratings Fitch Solutions Fitch Learning U.S. Credit: Fitch Ratings Credit rating agencies Financial services companies