DuckCorp Dico

Found one definition

1.                 From Japanese-English FreeDict Dictionary ver. 0.1:
                   
   
   
                   
                     
    [news1]  [nf06]  良 /(en)tʃˈaɪniːz(ja)lˈe̞tə/,  [news1]  [nf06] りょう /ɽʲäˈo̞ɯᵝ/
   1. (noun or verb acting prenominally)
   good
   2. (noun (common) (futsuumeishi))
   B grade (in an A, B, C ... system)