ANNEX II
Mapping table under the ratings-based method as referred to in Article 2
Axesor SA
Long-term issuer credit ratings scale | AAAsf | AA+sf to AA-sf | A+sf | Asf | A-sf | BBB+sf | BBBsf | BBB-sf | BB+sf | BBsf | BB-sf | Below BB-sf
Credit quality stepCQS | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | All other
FERIA.M. EuroRatingBest (EU) Rating Services AGB.V.
Long-term issue credit rating scale
| aaa(sf) | aa+(sf) | aa(sf) | aa-(sf) | a+(sf) | a(sf) | a-(sf) | bbb+(sf) | bbb(sf) | bbb-(sf) | bb+(sf) | bb(sf) | bb-(sf) | b+(sf) | b(sf) | b-(sf) | ccc+(sf), ccc(sf), ccc-(sf) | Below ccc-(sf)
Short-term issue rating scale
Short-term rating scale | F1+sf,AMB-1+(sf), F1sfAMB-1(sf) | F2sfAMB-2(sf) | F3sfAMB-3(sf) | | | | | | | | | | | | | | | Below BsfAMB-3(sf)
ARC Ratings SAS.A.
Medium- and long-term issue rating scale
Medium and Long-Term Issues | AAA_{SF} | AA+_{SF} to| AA_{SF} | AA-_{SF} | A+_{SF} | A_{SF} | A-_{SF} | BBB+_{SF} | BBB_{SF} | BBB-_{SF} | BB+_{SF} | BB_{SF} | BB-_{SF} | B+_{SF} | B_{SF} | B-_{SF} | CCC+_{SF}CCC_{SF}, CCC-_{SF} | Below BB-_{SF}CCC-_{SF}
Short-term issue rating scale
Short-Term Issues | A-1+_{SF}, A-1_{SF}A-1 _{SF} | A-2_{SF}A-2_{SF}, | A-3_{SF} | | | | | | | | | | | | | | | Below A-3_{SF}
CQS | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | All other
Axesor Risk Management S.L.
Long-term structured finance credit rating scale
Structured finance rating scale | AAA_{(sf)} | AA+_{(sf)} to| AA_{(sf)} | AA-_{(sf)} | A+_{(sf)} | A_{(sf)} | A-_{(sf)} | BBB+_{(sf)} | BBB_{(sf)} | BBB-_{(sf)} | BB+_{(sf)} | BB_{(sf)} | BB-_{(sf)} | B+_{(sf)} | B_{(sf)} | B-_{(sf)} | CCC+_{(sf),}CCC_{(sf)}, CCC-_{(sf)} | Below BB-_{(sf)}CCC-_{(sf)}
Creditreform RatingsRating AG
Long-term credit rating scale
Rating scale | AAA_{sf} | AA+_{sf} to| AA_{sf} | AA-_{sf} | A+_{sf} | A_{sf} | A-_{sf} | BBB+_{sf} | BBB_{sf} | BBB-_{sf} | BB+_{sf} | BB_{sf} | BB-_{sf} | B+_{sf} | B_{sf} | B-_{sf} | CCC_{sf} | Below BB-_{sf}CCC_{sf}
DBRS Ratings LimitedGmbH
Long-term obligations rating scale
Long-term obligations rating scale | AAA (sf)AAA_{(sf)} | AA (high) (sf) to AA (low) (sf)AA_{(high)(sf)} | A (high) (sf)AA_{(sf)} | A (sf)AA_{(low)(sf)} | A (low) (sf)A_{(high)(sf)} | BBB (high) (sf)A_{(sf)} | BBB (sf)A_{(low)(sf)} | BBB (low) (sf)BBB_{(high)(sf)} | BB (high) (sf)BBB_{(sf)} | BB (sf)BBB_{(low)(sf)} | BBBB_{(high)(sf)} (low)| (sf)BB_{(sf)} | BB_{(low)(sf)} | B_{(high)(sf)} | B_{(sf)} | B_{(low)(sf)} | CCC_{(high)(sf)}, CCC_{(sf)}, CCC_{(low)(sf)} | Below BB (low) (sf)CCC_{(low)(sf)}
Commercial paper and short-term debt rating scale
Commercial paper and short-term debt rating scale | R-1R-1_{(high)(sf)}, (high)R-1_{(middle)(sf)}, (sf) to R-1 (low) (sf)R-1_{(low)(sf)} | R-2R-2_{(high)(sf)}, (high)R-2_{(middle)(sf)}, (sf) to R-2 (low) (sf)R-2_{(low)(sf)} | R-3R-3_{(sf)} (sf) | | | | | | | | | | | | | | | Below R-3 (sf)R-3_{(sf)}
CQS | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | All other
Fitch Ratings Ireland Limited
Long-term rating scale
Long-term rating scale | AAA _{sf}AAA_{SF} | AA+ _{sf} to AA- _{sf}AA+_{SF} | A+ _{sf}AA_{SF} | A _{sf}AA-_{SF} | A- _{sf}A+_{SF} | BBB+ _{sf}A_{SF} | BBB _{sf}A-_{SF} | BBB- _{sf}BBB+_{SF} | BB+ _{sf}BBB_{SF} | BB _{sf}BBB-_{SF} | BB-BB+_{SF} _{sf}| BB_{SF} | BB-_{SF} | B+_{SF} | B_{SF} | B-_{SF} | CCC_{SF} | Below BB- _{sf}CCC_{SF}
Short-term rating scale
| F1+SF, F1 SF | F2SF | F3SF | | | | | | | | | | | | | | | Below F3SF
HR Ratings de México, S.A. de C.V.
Long-term credit rating scale
| HR AAA (E) | HR AA+ (E) | HR AA (E) | HR AA- (E) | HR A+ (E) | HR A (E) | HR A- (E) | HR BBB+ (E) | HR BBB (E) | HR BBB- (E) | HR BB+ (E) | HR BB (E) | HR BB- (E) | HR B+ (E) | HR B (E) | HR B- (E) | HR C+ (E) | Below HR C+ (E)
ICAP S.A.
Global credit rating scale
| AAASF, AAA-SF | AA+SF | AASF | AA-SF | A+SF | ASF | A-SF | BBB+SF | BBBSF | BBB-SF | BB+SF | BBSF | BB-SF | B+SF | BSF | B-SF | CCC+SF, CCCSF, CCC-SF | Below CCC-SF
CQS | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | All other
Japan Credit Rating Agency Ltd
Standard & Poor's Ratings Services
Long-term issue rating scale
Long-term issuer ratings scale | AAA | AA+ to| AA | AA- | A+ | A | A- | BBB+ | BBB | BBB- | BB+ | BB | BB- | B+ | B | B- | CCC | Below BB-CCC
Short-term issue rating scale
Short-term issuer ratings scale | J-1+, J-1 | J-2 | J-3 | | | | | | | | | | | | | | | Below J-3
Kroll Bond Rating Agency Europe Limited
Long-term credit rating scale
Long-Term Credit | AAA (sf)AAA_{(sf)} | AA+ (sf) to AA- (sf)AA+_{(sf)} | A+ (sf)AA_{(sf)} | A (sf)AA-_{(sf)} | A- (sf)A+_{(sf)} | BBB+ (sf)A_{(sf)} | BBB (sf)A-_{(sf)} | BBB- (sf)BBB+_{(sf)} | BB+ (sf)BBB_{(sf)} | BB (sf)BBB-_{(sf)} | BB-BB+_{(sf)} (sf)| BB_{(sf)} | BB-_{(sf)} | B+_{(sf)} | B_{(sf)} | B-_{(sf)} | CCC+_{(sf),} CCC_{(sf)}, CCC-_{(sf)} | Below BB- (sf)CCC-_{(sf)}
Short-term credit rating scale
Short-Term Credit | K1+K1+_{(sf),} (sf), K1 (sf)K1_{(sf)} | K2 (sf)K2_{(sf)} | K3K3_{(sf)} (sf) | | | | | | | | | | | | | | | Below K3 (sf)K3_{(sf)}
CQS | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | All other
Moody'sMoody’s Investors Service
Global long-term rating scale
Global long-term rating scale | Aaa(sf)Aaa_{(sf)} | Aa1(sf) to Aa3(sf)Aa1_{(sf)} | A1(sf)Aa2_{(sf)} | A2(sf)Aa3_{(sf)} | A3(sf)A1_{(sf)} | Baa1(sf)A2_{(sf)} | Baa2(sf)A3_{(sf)} | Baa3(sf)Baa1_{(sf)} | Ba1(sf)Baa2_{(sf)} | Ba2(sf)Baa3_{(sf)} | Ba3(sf)Ba1_{(sf)} | Ba2 _{(sf)} | Ba3 _{(sf)} | B1 _{(sf)} | B2 _{(sf)} | B3 _{(sf)} | Caa1_{(sf)}, Caa2_{(sf)}, Caa3_{(sf)} | Below Ba3(sf)Caa3_{(sf)}
Global short-term rating scale
Global short-term rating scale | P-1(sf)P-1 _{(sf)} | P-2(sf)P-2 _{(sf)} | P-3(sf)P-3 _{(sf)} | | | | | | | | | | | | | | | NP(sf)Below P-3_{(sf)}
Scope RatingRatings AGGmbH
Long-term credit rating scale
Global long-term rating scale | AAA_{SF} | AA+_{SF} to| AA_{SF} | AA-_{SF} | A+_{SF} | A_{SF} | A-_{SF} | BBB+_{SF} | BBB_{SF} | BBB-_{SF} | BB+_{SF} | BB_{SF} | BB-_{SF} | B+_{SF} | B_{SF} | B-_{SF} | CCC_{SF} | Below BB-_{SF}CCC_{SF}
Short-term credit rating scale
Global short-term rating scale | S-1+_{SF},S-1+_{SF,} S-1_{SF} | S-2_{SF}S-2 _{SF} | S-3_{SF}S-3 _{SF} | | | | , | | | | | | | | | | | S-4_{SF}Below S-3 _{SF}
CQS | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | All other
S&P Global Ratings Europe Limited
Global long-term issue credit rating scale
Long-term issuer credit ratings scale | AAA (sf)AAA_{(sf)} | AA+ (sf) to AA- (sf)AA+_{(sf)} | A+ (sf)AA_{(sf)} | A (sf)AA-_{(sf)} | A- (sf)A+_{(sf)} | BBB+ (sf)A_{(sf)} | BBB (sf)A-_{(sf)} | BBB- (sf)BBB+_{(sf)} | BB+ (sf)BBB_{(sf)} | BB (sf)BBB-_{(sf)} | BB-BB+_{(sf)} (sf)| BB_{(sf)} | BB-_{(sf)} | B+_{(sf)} | B_{(sf)} | B-_{(sf)} | CCC+_{(sf),} CCC_{(sf)}, CCC-_{(sf)} | Below BB- (sf)CCC-_{(sf)}
Global short-term issue credit rating scale
Short-term issuer credit ratings scale | A-1+A-1+_{(sf),} (sf), A-1 (sf)A-1_{(sf)} | A-2 (sf)A-2_{(sf)} | A-3A-3_{(sf)} (sf) | | | | | | | | | | | | | | | Below A-3 (sf)A-3_{(sf)}