Standard & Poor's credit ratings categorized from AAA down to BBB minus are generally considered investment grade, which signifies that an issuing corporation or government entity possesses a strong capacity to meet its financial commitments and carries a relatively low risk of default. Ratings sitting at BBB minus or higher are traditionally viewed by institutional portfolio managers and fiduciary regulators as safe, stable investments suitable for conservative capital deployment. Conversely, any rating falling below BB plus drops into the speculative or high-yield junk category, reflecting higher vulnerability to adverse economic cycles and increased default risks.