BBB Long-term debt rated BBB is of adequate credit quality.

She argues that the yield on lower investment-grade bonds, like those rated BBB, is not great enough to warrant the extra risk.

Another 20 percent may be rated BBB, the lowest investment-grade level, with a yield around 7.5 percent.

Both types of bonds were previously rated BBB.

Leucadia's long-term counterparty credit is now rated BBB-.

Bonds rated BBB and higher are called investment grade bonds.

As of Nov. 30, the portfolio's bonds were rated BBB, on average, compared with AAA for the index.

St. Louis and Detroit, the two next lowest rated, are rated BBB.

The issue is rated BBB by S.&P., with a Baa-2 rating by Moody's expected.

This rises to about 8.5 percent for "plain vanilla A-rated hospitals," he added, and around 9 percent if they are rated BBB-.