Are all AAA ratings (from various credit rating agencies) equivalent?
I am peeking into holdings of various ultra-short term debt mutual funds (average maturity of bonds should be less than 1 year) and am coming up with AAA ratings of at least three different agencies:
1. Brickworks
2. CRISIL
3. CARE
4. ICRA
Is it correct to assume that AAA ratings from all these agencies are equally AAA?
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Is it correct to assume that AAA ratings from all these agencies are equally AAA?
Every agency has slightly different evaluation criteria of what an AAA is. Generally this rating means the company/fund are doing well and are in top category. There are cases where the same company is evaluated and given slightly different ratings, so they are not exactly same, but are equivalent.
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