ANNEX
‘ANNEX III
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.) | ||||||
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Global short-term rating scale | S1 | S2 | S3, S4, NS | |||
AM Best Europe Rating Services | ||||||
Long-term issuer credit rating scale | aaa, aa+, aa, aa- | a+, a, a- | bbb+, bbb, bbb- | bb+, bb, bb- | b+, b, b- | ccc+, ccc, ccc-, cc, c, d, e, f, s |
Long-term issue rating scale | aaa, aa+, aa, aa- | a+, a, a- | bbb+, bbb, bbb- | bb+, bb, bb- | b+, b, b- | ccc+, ccc, ccc-, cc, c, d, s |
Financial strength rating scale | A++, A+ | A, A- | B++, B+ | B, B- | C++, C+ | C, C-, D, E, F, S |
Short-term issuer rating scale | AMB-1+ | AMB-1- | AMB-2, AMB-3 | AMB- 4, d, e, f, s | ||
Short-term issue rating scale | AMB-1+ | AMB-1- | AMB-2, AMB-3 | AMB- 4, d, s | ||
ARC Ratings S.A. | ||||||
Medium- and long-term issuer rating scale | AAA, AA | A | BBB | 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 Risk Management SL | ||||||
Global rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D, E |
Banque de France | ||||||
Global long-term issuer credit rating scale | 3++ | 3+, 3 | 4+ | 4, 5+ | 5, 6 | 7, 8, 9, P |
BCRA — Credit Rating Agency AD | ||||||
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Global short-term rating scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
Pension-insurance company long-term scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Pension-insurance company short-term scale | A-1+ | A-1 | A-2, A-3 | B, C, D | ||
Pension fund long-term scale | AAA pf, AA pf | A pf | BBB pf | BB pf | B pf | C pf |
Guarantee fund long-term scale | AAA, AA | A | BBB | BB | B | C, D |
Guarantee fund short-term 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 long-term insurer financial strength rating scale | AAA, AA | A | BBB | BB | B | C, RS, SD, D |
International short-term issuer rating scale | A1+ | A1 | A2, A3 | 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 |
Creditreform Rating AG | ||||||
Long-term issuer rating scale | AAA, AA | A | BBB | BB | B, C, SD, D | |
Long-term issue rating scale | AAA, AA | A | BBB | BB | B, C, D | |
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 | ||||||
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 | ||
Financial strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, R |
Egan-Jones Ratings Co. | ||||||
Long-term credit rating scale | AAA, AA | A | BBB | BB | B | 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 |
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 default rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, RD, D |
Corporate finance obligations — long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C |
Long-term international Insurer Financial 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 rating scale | F1+ | F1 | F2, F3 | B, C | ||
GBB-Rating Gesellschaft für Bonitätsbeurteilung GmbH | ||||||
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 rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, LD, D |
Long-term issue rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Short-term issuer rating scale | J-1+ | J-1 | J-2 | J-3, NJ, LD, D | ||
Short-term issue credit rating 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 | ||
Kroll Bond Rating Agency Europe | ||||||
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 |
Global short-term rating scale | P-1 | P-2 | P-3 | NP | ||
QIVALIO SAS (formerly Spread Research) | ||||||
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Global short-term rating scale | SR0 | SR1, SR2 | SR3, SR4, SR5, SRD | |||
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 |