For me PD is S tier even if not the fastest out there... and I liked Bend games since Syphon Filter and Days Gone is a very good game for me, so it would be at least B perhaps A.

Based on their recent work, success and budget -

S Tier: Naughty Dog , Santa Monica Studios, Polyphony Digital, Insomniac Games, Sucker Punch Productions.

A Tier Guerilla Games (bordering on A/S but Horizon 2 might put them on S), Housemarque , Team Asobi, Media Molecule.

B Tier : Bend Studios , London Studios, Pixelopus, San Diego Studios.

S Tier/Godly Tier/Faye Reagan Tier

- Naughty Dog
- Santa Monica Studios
- Insomniac Games
- Sucker Punch Productions

A Tier/Semi-Godly Tier/Evelyn Claire Tier: 

- Polyphony Digital
- Guerrilla Games (Close to S Tier)

B Tier/Pretty decent Tier/Lexi Belle Tier:

- Housemarque 
-MediaMolecule
-BendStudios

C Tier/Not bad, but not particularly good tier/ Stella Cox Tier:

- London/San Diego Studios 

Unknown Tier/Abella Danger Tier:

- Team Asobi (never played anything by them and honestly im not interested)

Team Asobi is what remains of Japan Studios, and recently made the Astro Playrooms, Astro Rescue, and some other games.

@the-pi-guy 

Idd. Santa Monica Studios are surely up there with one of my favourite devs alongside Naughtydog. Their games are consistently good and they're getting better with every release. The only game by SMS that disappointed me was Ascension and even then it fairly good; if not uninspired prequel.

But yeah, GoW is their best title yet and recently completing the game again hammers in that they are (arguably) in a league of their own. That game is almost perfect.. its like the Resident Evil 4 of the last generation imo.

• S Tier > Studios with a long history of success, numerous critically acclaimed games, with numerous nominations/wins as "game of the year". Games from these studios make the ground shake, nomination in the Game awards (and other awards) is almost certain, also victory is likely.
  
  Names:
  Naughty Dog.
  Santa Monica Studios.

• A Tier > Extremely competent studios, capable of making outstanding and critically acclaimed games, however... Imho, 3 factors differentiate A and S tier.
  
  The first factor is the achievement history. Tier A doesn't have as many nominations and wins as "tier S", plus "tier A" generates a lower feeling of "nomination/win chance" than class S. It's good to say that "Tier A" has solid odds of winning "game of the year" awards, and in some cases they may even have some past awards and appear as favorites.
  
  Another important difference, Tier "A' studios tend to have some "slips". Even though they have released critically acclaimed games at some point, Tier "A" sometimes releases a game that disappoints. Studios that used to be "Tier S" they turn "Tier A" because they can't repeat past hits, and "Tier A" studios can even get lower.
  
  Final factor, the impact of "Tier A" games. "Tier S" makes the ground shake, the game makes a mark on the calendar of the year (in some cases they become classics). Tier A doesn't usually create that impact, it's not a question of sales, it's more of a "WOW" factor and being embraced, sometimes adored, by your audience.
  
  Names:
  Guerrila Games.
  Sucker Punch.
  Insomniac.
  
  
  
• B Tier > Good games. In some cases the games created by these studios have quality that owes nothing to "Tier A" and are easily confused with "tier S".
  About the expectation of "making a presence" and creating something really special... very few expect that from them.
  Few people expect games created by "tier B" to receive nominations for game of the year, let alone win. 
  Sometimes the studio is still small and needs time for growth and earning reputation ( some Tier S studios used to be Tier B), other times the studio is big, but just can't deliver that "especial game" on "Tier A"/"Tier S" level, and there is also the case of the studio that is connected to " this objective/game" and is not meant to be a top tier studio.
  
  Names:
  Polyphony Digital.
  Bend studio.
  San Diego Studio.
  Asobi Studios.
  Media Molecule.
  House Marque.
  
  
  
• C tier > Studios that have something to prove. Too long without releasing a game that makes a substantial impact or/and studios too small to make an impact.
  
  Names:
  Pixel Opus.
  London studios.

S-tier
I think Naughty Dog is S-tier even objectively speaking, whether one likes their story and design choices or not. The quality and polish in everything is top notch compared to anything that's out there.
Santa Monica hoisted themselves into this category with the new GoW, and so did Sucker Punch with Tsushima.

A-tier
Insomniac's Spider-Man is pretty flawless as well, but would they be able to do as good with an IP and a concept of their own instead of building around a popular superhero?
Guerrilla is also on this tier, they are almost at S but I feel just a little more depth is needed in character building and fleshing out the world. Maybe the new horizon will accomplish that.
I would also put Polyphony here, technically you can't do a driving game much prettier but very little changes between iterations other than a graphical update. Basically the same races, same tracks and so on. Feels a little repetitive, a bit like the big sports games with annual updates.

B-tier
Bend. After the Syphon filter series, they kind of went low profile and then suddenly came out with Days Gone, which I liked very much. With their next game, they could easily become A-tier, no doubt about it. A pity they didn't get to make a sequel for DG, making the concept even stronger would have been a straight shot to the next level for them.

C-tier
Others.
I'm sure the upper tiers should include some studios that I'm simply not familiar with, and I'm certainly forgetting a lot of stuff, but these were just off the top of my head.

Some of you are displaying their incapability to be objective.

Tbf the OP doesn't specify if it's a your personal favorite or best technical developers type thing.

He doesn`t say to order your favorite studios or exclusives. When you talk about a tier it is something objective. Just like on Gatcha games, for some fights there are tier D that could solve the problem better than tier S on a specific slot, but that doesn`t make the tier invert.