It can relate to a few factors but its pretty much as you might expect from the naming scheme and describes the overall quality of the panel. Lower grade panels may be subject to more inconsistencies including issues with backlight bleed, luminance uniformity, the consistency of the polarisers, and even dead pixels. So a lower grade panel may be subject to more issues than a higher grade panel. Of course it doesn't guarantee it completely, but there's more chance of a better quality screen using an A+ (or A1 as they are sometimes called) panel than an A- or B grade panel.