below investment grade
adjective
FINANCEukusifsharesorbondsare belowinvestmentgrade, there is ariskthat they maylosevalueor not bepaidback:
Themarketvaluesof securitiesratedbelowinvestmentgradetendto be moresensitivetochangesineconomicconditionsthan higher-rated securities.
Lastweek, Standard & Poor's Corp.assigneda below-investmentgraderatingto the county's newdebtsecurities.