| Credit quality step | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| AM Best Europe-Rating Services Ltd | ||||||
| Long-term issuer credit ratings scale | aaa, aa+, aa, aa- | a+, a, a- | bbb+, bbb, bbb- | bb+, bb, bb- | b+, b, b- | ccc+, ccc, ccc-, cc, c, rs |
| Long-term debt ratings scale | aaa, aa+, aa, aa- | a+, a, a- | bbb+, bbb, bbb- | bb+, bb, bb- | b+, b, b- | ccc+, ccc, ccc-, cc, c, d |
| Financial strength ratings scale | A++, A+ | A, A- | B++, B+ | B, B- | C++, C+ | C, C-, D, E, F, S |
| Short-term ratings scale | AMB-1+ | AMB-1- | AMB-2, AMB-3 | AMB- 4 | ||
| ARC Ratings S.A. and ARC Ratings (UK) Limited | ||||||
| Medium and long-term issuers rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Medium and long-term issues rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term issuers rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| Short-term issues rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| ASSEKURATA Assekuranz Rating-Agentur GmbH | ||||||
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC/C, D |
| Short-term corporate rating scale | A++ | A | B, C, D | |||
| Axesor SA | ||||||
| Global rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D, E |
| Banque de France | ||||||
| Global long-term issuer credit ratings scale | 3++ | 3+, 3 | 4+ | 4, 5+ | 5, 6 | 7, 8, 9, P |
| BCRA – Credit Rating Agency AD | ||||||
| Bank long-term ratings scale | AAA, AA | A | BBB | BB | B | C, D |
| Insurance long-term ratings scale | iAAA, iAA | iA | iBBB | iBB | iB | iC, iD |
| Corporate long-term ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Municipality long-term ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Issue long-term ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Bank short-term ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| Corporate short-term ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| Municipality short-term ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| Issue short-term rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| Capital Intelligence Ltd | ||||||
| International long-term issuer rating scale | AAA, AA | A | BBB | BB | B | C, RS, SD, D |
| International long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| International short-term issuer rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| International short-term issue rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| Cerved Rating Agency S.p.A. | ||||||
| Corporate long-term rating scale | A1.1, A1.2, A1.3 | A2.1, A2.2, A3.1 | B1.1, B1.2 | B2.1, B2.2 | C1.1 | C1.2, C2.1 |
| Creditreform Ratings AG | ||||||
| Long-term rating scale | AAA, AA | A | BBB | BB | B | C, D |
| CRIF S.p.A. | ||||||
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, D1, D2 |
| Dagong Europe Credit Rating | ||||||
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term credit rating scale | A-1 | A-2, A-3 | B, C, D | |||
| DBRS Ratings Limited | ||||||
| Long-term obligations rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Commercial paper and short-term debt rating scale | R-1 H, R-1 M | R-1 L | R-2, R-3 | R-4, R-5, D | ||
| Claims paying ability rating scale | IC-1 | IC-2 | IC-3 | IC-4 | IC-5 | D |
| Egan-Jones Ratings Co. | ||||||
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, SD, D |
| Short-term credit rating scale | A-1+ | A-1 | A-2 | A-3, B, C, D | ||
| Euler Hermes Rating GmbH | ||||||
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, SD, D |
| European Rating Agency, a.s. | ||||||
| Long-term rating scale | AAA, AA, A | BBB | BB | B | CCC, CC, C, D | |
| Short-term rating scale | S1 | S2 | S3, S4, NS | |||
| EuroRating Sp. z o.o. | ||||||
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Fitch Ratings | ||||||
| Long-term issuer credit ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, RD, D |
| Corporate finance obligations – Long-term ratings scale | AAA AA | A | BBB | BB | B | CCC, CC, C |
| Long-term international IFS ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C |
| Short-term rating scale | F1+ | F1 | F2, F3 | B, C, RD, D | ||
| Short-term IFS ratings scale | F1+ | F1 | F2, F3 | B, C | ||
| GBB-Rating Gesellschaft für Bonitäts-beurteilung mbH | ||||||
| Global long-term rating scale | AAA, AA | A, BBB | BB | B | CCC, CC, C, D | |
| HR Ratings de México, S.A. de C.V. | ||||||
| Global long-term rating scale | HR AAA(G)/ | HR AA(G) HR A(G) | HR BBB(G) | HR BB(G) | HR B(G) | HR C(G)/HR D(G) |
| Global short-term rating scale | HR+1(G)/HR1(G) | HR2(G) | HR3(G) | HR4(G), HR5(G), HR D(G) | ||
| ICAP Group S.A | ||||||
| Global long-term rating scale | AA, A | BB, B | C, D | E, F | G, H | |
| INC Rating Sp. z o.o. | ||||||
| Long-term issuer credit rating scale | AAA, AA | A | BBB | BB | B | CCC,CC, C, D |
| Japan Credit Rating Agency Ltd | ||||||
| Long-term issuer ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, LD, D |
| Long-term issue ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term issuer ratings scale | J-1+ | J-1 | J-2 | J-3, NJ, LD, D | ||
| Short-term issue credit ratings scale | J-1+ | J-1 | J-2 | J-3, NJ, D | ||
| Kroll Bond Rating Agency and Kroll Bond Rating Agency UK Limited | ||||||
| Long-term credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Short-term credit rating scale | K1+ | K1 | K2, K3 | B, C, D | ||
| modeFinance S.r.l. | ||||||
| Global long-term rating scale | A1,A2 | A3 | B1 | B2 | B3 | C1, C2, C3, D |
| Moody's Investors Service | ||||||
| Global long-term rating scale | Aaa, Aa | A | Baa | Ba | B | Caa, Ca, C |
| Bond fund rating scale | Aaa-bf, Aa-bf | A-bf | Baa-bf | Ba-bf | B-bf | Caa-bf, Ca-bf, C-bf |
| Global short-term rating scale | P-1 | P-2 | P-3 | NP | ||
| Rating-Agentur Expert RA GmbH | ||||||
| International credit rating scale | AAA, AA | A | BBB | BB | B | CCC,CC, C, D, E |
| International reliability rating scale | AAA, AA | A | BBB | BB | B | CCC,CC, C, D, E |
| Scope Ratings AG and Scope Ratings UK Limited | ||||||
| Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC,C, D |
| Global short-term rating scale | S-1+ | S-1 | S-2 | S-3, S-4 | ||
| Spread Research | ||||||
| International long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| S&P Global Ratings Europe Limited and S&P Global Ratings UK Limited | ||||||
| Long-term issuer credit ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, R, SD/D |
| Long-term issue credit ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
| Insurer financial strength ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, SD/D, R |
| Fund credit quality ratings scale | AAAf, AAf | Af | BBBf | BBf | Bf | CCCf |
| Mid Market Evaluation ratings scale | MM1 | MM2 | MM3, MM4 | MM5, MM6 | MM7, MM8, MMD | |
| Short-term issuer credit ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, R, SD/D | ||
| Short-term issue credit ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
| The Economist Intelligence Unit Ltd | ||||||
| Sovereign rating band scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
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ANNEX III Mapping tables for the purposes of Article 16
You are viewing ANNEX III Mapping tables for the purposes of Article 16 as of ANNEX III Mapping tables for the purposes of Article 16 was last updated on 01/01/2021.