Double B Credit Rating

A Double B Credit Rating issued by S&P is regarded as having significant speculative characteristics and obligations that have some quality and protective characteristics, that may be outweighed by large uncertainties or major exposures to adverse conditions. An obligation rated 'BB' is less vulnerable to nonpayment than other speculative issues. As it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to the obligor's inadequate capacity to meet its financial commitments on the obligation, these companies largely demonstrate the ability to meet their debt payment obligations.