Investing Basics – Feel free to ask the most basic questions

Credit Rating query:

When we say “XYZ company is AAA rated” so how is this rating different from credit ratings of loan facilities that the company has availed? Because a company may different types of loans like external commercial borrowings, fund based, non-fund based, working capital, certificates, NCDs, NCDs, etc.

For eg., the credit ratings of Reliance’s loans ranges from AAA to BBB

https://www.fitchratings.com/research/corporate-finance/fitch-affirms-reliance-industries-ratings-outlook-stable-21-09-2022
https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/RelianceIndustriesLimited_February%2023,%202022_RR_288458.html

https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/FirstBusinessReceivablesTrust_July%2028,%202023_RR_323734.html

https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/RelianceIndustriesLimited_October%2012,%202023_RR_327963.html

I had read that only two companies are AAA rated (Microsoft and Johnson & Johnson) but as seen above even Reliance is rated AAA so why is Reliance not included as AAA rated?

https://www.investors.com/etfs-and-funds/sectors/sp500-companies-cling-to-aaa-rating-as-u-s-risks-being-a-deadbeat/