Mapping tables for the purposes of Article 16
Credit quality step | 1 | 2 | 3 | 4 | 5 | 6
ACRA Europe, a.s (formerly European Rating Agency, a.s.) | | | | | |
Medium- andGlobal long-term issues rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
Medium-Global and long-term issuersshort-term rating scale | AAA,S1 AA| | S2 | AS3, S4, NS | BBB | BB | B | CCC, CC, C, D
AM Best Europe-RatingEurope Rating Services Ltd| | | | | |
Long-term issuer credit ratingsrating scale | aaa, aa+, aa, aa- | a+, a, a- | bbb+, bbb, bbb- | bb+, bb, bb- | b+, b, b- | ccc+, ccc, ccc-, cc, c, rsd, e, f, s
Long-term debtissue ratingsrating scale | aaa, aa+, aa, aa- | a+, a, a- | bbb+, bbb, bbb- | bb+, bb, bb- | b+, b, b- | ccc+, ccc, ccc-, cc, c, dd, s
Financial strength ratingsrating scale | A++, A+ | A, A- | B++, B+ | B, B- | C++, C+ | C, C-, D, E, F, S
Short-term ratingsissuer rating scale | AMB-1+ | AMB-1- | AMB-2, AMB-3 | AMB- 44, d, e, f, s | |
Short-term issuesissue rating scale | A-1+AMB-1+ | A-1AMB-1- | A-2,AMB-2, A-3AMB-3 | B,AMB- C,4, Dd, s | |
ARC Ratings S.A. | | | | | |
Short-termMedium- issuersand long-term issuer rating scale | A-1+AAA, AA | A-1A | A-2, A-3BBB | B,BB | B | CCC, CC, C, D | |
Medium- and long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
Short-term issuer rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | |
Short-term issue 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
Axesor Risk Management SL | | | | | |
Global rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D, E
Municipality long-term ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
Municipality short-term ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, D | |
Banque de France | | | | | |
Global long-term issuer credit ratingsrating scale | 3++ | 3+, 3 | 4+ | 4, 5+ | 5, 6 | 7, 8, 9, P
BCRA –— Credit Rating Agency AD | | | | | |
CorporateGlobal long-term ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
BankGlobal short-term ratingsrating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | |
IssuePension-insurance company long-term ratings scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
IssuePension-insurance company short-term rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | |
BankPension fund long-term ratings scale | AAA,AAA pf, AA pf | A pf | BBB pf | BB pf | B pf | C,C Dpf
InsuranceGuarantee fund long-term ratings scale | iAAA,AAA, iAAAA | iAA | iBBBBBB | iBBBB | iBB | iC,C, iDD
CorporateGuarantee fund short-term ratings scale | A-1+ | A-1 | A-2, A-3 | B, C, D | |
Capital Intelligence Ratings 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-termlong-term issuerinsurer financial strength rating scale | A-1+AAA, AA | A-1A | A-2, A-3BBB | B,BB | B | C, RS, SD, D | |
International short-term issueissuer rating scale | A-1+A1+ | A-1A1 | A-2,A2, A-3A3 | B, C, RS, SD, D | |
International short-term issue rating scale | A1+ | A1 | A2, A3 | B, C, D | |
International short-term insurer financial strength rating scale | A1+ | A1 | A2, A3 | B, C, RS, SD, 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
CRIF S.p.A.
Creditreform RatingsRating AG | | | | | |
Long-term issuer rating scale | AAA, AA | A | | BBB | BB | B |B, C, SD, D
GlobalLong-term long-termissue rating scale | AAA, AA | A | | BBB | BB | BB, |C, CCC, D1, D2D
Short-term rating scale | L1 | L2 | | L3, NEL, D | |
CRIF Ratings S.r.l. | | | | | |
Long-term issuer rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D1S, D
Long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, DS
Short-term issuer rating scale | IG-1 | | IG-2 | SIG-1, SIG-2, SIG-3, SIG-4 | |
Short-term issue rating scale | IG-1 | | IG-2 | SIG-1, SIG-2, SIG-3, SIG-4 | |
Dagong Europe Credit Rating Srl | | | | | |
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 | |
Long-termFinancial creditstrength rating scale | AAA, AA | A | BBB | BB | B | CCC,CC,CCC, CC, C, DR
Egan-Jones Ratings Co. | | | | | |
ClaimsLong-term paying abilitycredit rating scale | IC-1AAA, AA | IC-2A | IC-3BBB | IC-4BB | IC-5B | CCC, CC, C, 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.zo.o.Sp. z o.o. | | | | | |
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
Fitch Ratings | | | | | |
Long-term issuer creditdefault ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, RD, D
Corporate finance obligations –— long-term ratingsrating scale | AAAAAA, AA | A | BBB | BB | B | CCC, CC, C
Long-term international IFSInsurer ratingsFinancial Strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C
Derivative counterparty rating scale | AAA dcr, AA dcr | A dcr | BBB dcr | BB dcr | B dcr | CCC dcr, CC dcr, C dcr
Short-term rating scale | F1+ | F1 | F2, F3 | B, C, RD, D | |
Short-term IFS ratingsrating scale | F1+ | F1 | F2, F3 | B, C | |
GBB-Rating Gesellschaft für Bonitäts-beurteilungBonitätsbeurteilung mbHGmbH | | | | | |
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,CCC, CC, C, D
Japan Credit Rating Agency Ltd | | | | | |
Long-term issuer ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, LD, D
Long-term issue ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
Short-term issuer ratingsrating scale | J-1+ | J-1 | J-2 | J-3, NJ, LD, D | |
Short-term issue credit ratingsrating scale | J-1+ | J-1 | J-2 | J-3, NJ, D | |
Kroll Bond Rating Agency | | | | | |
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 | |
GlobalKroll long-termBond ratingRating scaleAgency Europe | A1,A2 | | | | | A3 | B1 | B2 | B3 | C1, C2, C3, D
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'sMoody’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 | |
Spread Research
Standard & Poor's Ratings Services
QIVALIO SAS (formerly Spread Research) | | | | | |
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC,C,CC, C, D
Short-termGlobal issueshort-term credit ratingsrating scale | A-1+ | A-1 | A-2, A-3 | B, C, DSR0 | | SR1, SR2 | SR3, SR4, SR5, SRD | |
Rating-Agentur Expert RA GmbH | | | | | |
International credit rating scale | AAA, AA | A | BBB | BB | B | CCC,CC,CCC, CC, C, D, E
International reliability rating scale | AAA, AA | A | BBB | BB | B | CCC,CC,CCC, CC, C, D, E
Scope Ratings AGGmbH | | | | | |
Long-term issue credit ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C,CC,C, D
Global short-termShort-term rating scale | S-1+ | S-1 | S-2 | S-3, S-4 | |
S&P Global Ratings Europe Limited | | | | | |
Long-term issuer credit ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, R, SD/D
InternationalLong-term long-termissue credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D
Insurer financial strength ratingsrating scale | AAA, AA | A | BBB | BB | B | CCC, CC, SD/D, R
Mid MarketMid-Market Evaluation ratingsrating scale | | MM1 | MM2 | MM3, MM4 | MM5, MM6 | MM7, MM8, MMD
Short-term issuer credit ratingsrating scale | A-1+ | A-1 | A-2, A-3 | B, C, R, SD/D | |
FundShort-term issue credit quality ratingsrating scale | AAAf, AAfA-1+ | AfA-1 | BBBfA-2, A-3 | BBfB, C, D | Bf | CCCf
The Economist Intelligence Unit Ltd | | | | | |
Sovereign rating band scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D