INVESTMENT GRADE, in securities, is a high credit rating indicating bonds generally considered to have the strongest possibility of paying interest and repaying principal when due. Standard & Poor's Corporation considers investment grade bonds to be those it rates from AAA through BBB. Moody's considers investment grade to be from AAA to Baa3. Below investment grade bonds also are known as high yield or junk bonds. The NAIC designates investment grade bonds with the numerical rating of "I" or "2".
PRINCIPAL AUDITOR is the auditor responsible for the greater portion of financial statements. The principal auditor may assume responsibility for the work of other auditors or divide responsibility with the other auditors.
PROPRIETORS FUNDS is owners capital plus net profit minus owners' drawings.
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