The investment grade corporate bond market continues to expand in size, and is now nearing record levels. The Bloomberg Barclay’s US Corporate Bond Index, representative of the US corporate bond market, now measures over $5 trillion; nearing its all-time high and further up from its $2 trillion mark in 2008. The BBB-rated segment of the index has experienced significant growth, with it now representing over 50% of the corporate bond market. This paper will focus on the observable growth of the BBB-rated segment, speak to the implications of its changing characteristics and provide a perspective on how we (TD Asset Management or “TDAM”) identify quality credit instruments for inclusion in the portfolios and funds under our management.