ANNEX
‘ANNEX III
MAPPING TABLES FOR THE PURPOSES OF ARTICLE 16
Credit quality step | 1 | 2 | 3 | 4 | 5 | 6 |
A.M. Best (EU) Rating Services B.V. | ||||||
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 |
Insurance Financial Strength Rating Criteria 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 | |||
Banque de France | ||||||
Global ANACOT long-term issuer credit rating scale | 1+ | 1, 1- | 2+, 2, 2- | 3+, 3, 3-, 4+, 4, 4-, 5+ | 5, 5-, 6+, 6, 6- | 7, 8, 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 |
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 |
Corporate short-term rating scale | S-1 | S-2 | S-3 | V-1, R-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 |
SME rating scale | SME1, SME2 | SME3 | SME4 | SME5, SME6 | SME7, SME8 | |
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 | |||
DBRS Ratings GmbH | ||||||
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 |
Expected loss rating scale | AAA(el), AA(el) | A(el) | BBB(el) | BB(el) | B(el) | CCC(el), CC(el), C(el) |
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 | ||
EthiFinance S.L. (formerly Axesor Risk Management S.L.) | ||||||
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Global short-term rating scale | EF1+ | EF1, EF2 | EF3, EF4 EF5 | |||
EuroRating Sp. z o.o. | ||||||
Global long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Fitch Ratings Ireland Limited | ||||||
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, RD dcr, R 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 CRIF S.A. (previously ICAP S.A.) | ||||||
Global long-term issuer rating scale | AAA, AA | A | BBB | BB | B, CCC | CC, C, D |
Global long-term issue rating scale | AAA, AA | A | BBB | BB | B, CCC | CC, C, D |
INBONIS S.A. | ||||||
Long-term 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 Europe 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 | ||
Insurance Financial Strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, 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 | ||
Nordic Credit Rating AS | ||||||
Long-term rating scale | AAA/AA | A | BBB | BB | B | CCC, CC, C, D, SD |
Short-term rating scale | N1 | N2 | N3 | N4, N5, N6 | ||
Scope Ratings GmbH | ||||||
Long-term rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D/SD |
Short-term rating scale | S-1+ | S-1 | S-2 | S-3, S-4, D/SD | ||
S&P Global Ratings Europe Limited | ||||||
Long-term issuer credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, R, SD/D |
Long-term issue credit rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, C, D |
Insurer financial strength rating scale | AAA, AA | A | BBB | BB | B | CCC, CC, SD/D, R |
Long-term Financial Institution Resolution Counterparty Ratings | AAA, AA | A | BBB | BB | B | CCC, CC, SD, D |
Mid-Market Evaluation rating scale | MM1 | MM2 | MM3, MM4 | MM5, MM6 | MM7, MM8, MMD |