NEW YORK--(BUSINESS WIRE)--Effective today, Fitch Ratings has changed the name of its 'Fund Credit Ratings' to 'Fund Credit Quality Ratings'.
Bond fund ratings and traditional credit ratings have different rating definitions, and this change will help to further differentiate the two. No changes were made to the underlying issuer ratings, only to the rating name.
Fitch has also revised its rating definitions for Recovery Ratings. The agency may now selectively assign Recovery Ratings to noninvestment grade credits; previously the rating definition restricted Recovery Ratings to credits in the 'B' category.
Fitch has revised the ratings definitions available on its website ('www.fitchratings.com') to reflect these changes.
Additional information is available at 'www.fitchratings.com'.