The rating agencies have analyzed the creditworthiness of a casino operator and determined that the company currently has adequate capacity to meet financial commitments. But this capacity could be adversely impacted by negative economic conditions. Any further credit rating reduction would move the casino operator into the speculative category. Which of the following S&P/Moody's ratings has the casino operator been assigned?
  A. AA/Aa
  B. A/A
  C. BBB/Baa
  D. BB/Ba
  Answer:C
  There is an important division: investment grade and non-investment grade that occurs between Baa and Ba (or BBB and BB).