There are three main levels of recognition in the Michelin Guide, which is the most popular guide for finding the highest rated restaurants in the would. Level 1, the restaurant simply makes it into the guide. Just being listed is a huge honor and I have never seen more than 10 San Jose restaurants listed in the guide in its entire history.
Level 2 is Bib Gourmand, which means not only did the restaurant make it into the guide but you can have a multi-course meal at an affordable price at that restaurant. I can't remember a single San Jose restaurant getting a Bib Gourmand distinction until this year. The requirements is you need to be able to order two courses and wine or dessert for $40 or less.
Level 3 is when the Michelin Stars come into play. Each restaurant at this level can receive one to three stars. In the US these are typically very fancy restaurants where you can expect to drop $100-300 per person.
Petiscos is a casual restaurant owned by the proprietors of ADEGA, San Jose's first and only Michelin Star restaurant. A couple months ago, Petiscos was added to the Michelin Guide for the first time. Now, they are one of the very first restaurants in San Jose to get the Bib Gourmand designation! The only other one I am aware of is Luna Mexican Kitchen on the Alameda.
Considering San Jose only has four restaurants total in the Michelin Guide right now, it is pretty big news that two of them now have the Bib Gourmand distinction. Hopefully many more San Jose restaurants will be recognized in the future.