| Credit quality step | 1 | 2 | 3 | 4 | All other |
|---|---|---|---|---|---|
| ARC Ratings SA | |||||
| Medium and Long-Term Issues | AAASF to AA-SF | A+SF to A-SF | BBB+SF to BBB-SF | BB+SF to BB-SF | Below BB-SF |
| Short-Term Issues | A-1+SF, A-1SF | A-2SF | A-3SF | Below A-3SF | |
| Axesor SA | |||||
| Structured finance rating scale | AAA(sf) to AA-(sf) | A+(sf) to A-(sf) | BBB+(sf) to BBB-(sf) | BB+(sf) to BB-(sf) | Below BB-(sf) |
| Creditreform Ratings AG | |||||
| Long-term rating scale | AAA sf, AA- sf | A+ sf to A- sf | BBB+ sf to BBB- sf | BB+ sf to BB- sf | Below BB- sf |
| DBRS Ratings Limited | |||||
| Long-term obligations rating scale | AAA (sf) to AA (low) (sf) | A (high) (sf) to A (low) (sf) | BBB (high) (sf) to BBB (low) (sf) | BB (high) (sf) to BB (low) (sf) | Below BB (low) (sf) |
| Commercial paper and short-term debt rating scale | R-1 (high) (sf) to R-1 (low) (sf) | R-2 (high) (sf) to R-2 (low) (sf) | R-3 (sf) | Below R-3 (sf) | |
| FERI EuroRating Services AG | |||||
| Rating scale | AAAsf to AA-sf | A+sf to A-sf | BBB+sf to BBB-sf | BB+sf to BB-sf | Below BB-sf |
| Fitch Ratings | |||||
| Long-term issuer credit ratings scale | AAAsf to AA-sf | A+sf to A-sf | BBB+sf to BBB-sf | BB+sf to BB-sf | Below BB-sf |
| Short-term rating scale | F1+sf, F1sf | F2sf | F3sf | Below F3sf | |
| Japan Credit Rating Agency Ltd | |||||
| Long-term issuer ratings scale | AAA to AA- | A+ to A- | BBB+ to BBB- | BB+ to BB- | Below BB- |
| Short-term issuer ratings scale | J-1+, J-1 | J-2 | J-3 | Below J-3 | |
| Kroll Bond Rating Agency | |||||
| Long-Term Credit | AAA (sf) to AA- (sf) | A+ (sf) to A- (sf) | BBB+ (sf) to BBB- (sf) | BB+ (sf) to BB- (sf) | Below BB- (sf) |
| Short-Term Credit | K1+ (sf), K1 (sf) | K2 (sf) | K3 (sf) | Below K3 (sf) | |
| Moody's Investors Service | |||||
| Global long-term rating scale | Aaa(sf) to Aa3(sf) | A1(sf) to A3(sf) | Baa1(sf) to Baa3(sf) | Ba1(sf) to Ba3(sf) | Below Ba3(sf) |
| Global short-term rating scale | P-1(sf) | P-2(sf) | P-3(sf) | NP(sf) | |
| Standard & Poor's Ratings Services | |||||
| Long-term issuer credit ratings scale | AAA (sf) to AA- (sf) | A+ (sf) to A- (sf) | BBB+ (sf) to BBB- (sf) | BB+ (sf) to BB- (sf) | Below BB- (sf) |
| Short-term issuer credit ratings scale | A-1+ (sf), A-1 (sf) | A-2 (sf) | A-3 (sf) | Below A-3 (sf) | |
| Scope Rating AG | |||||
| Global long-term rating scale | AAASF to AA-SF | A+SF to A-SF | BBB+SF to BBB-SF | BB+SF to BB-SF | Below BB-SF |
| Global short-term rating scale | S-1+SF, S-1SF | S-2SF | S-3SF | S-4SF | |
| Credit quality step | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | All other |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ARC Ratings SA | ||||||||||||
| Medium and Long-Term Issues | AAASF | AA+SF to AA-SF | A+SF | ASF | A-SF | BBB+SF | BBBSF | BBB-SF | BB+SF | BBSF | BB-SF | Below BB-SF |
| Short-Term Issues | A-1+SF, A-1SF | A-2SF | A-3SF | Below A-3SF | ||||||||
| Axesor SA | ||||||||||||
| Structured finance rating scale | AAA(sf) | AA+(sf) to AA-(sf) | A+(sf) | A(sf) | A-(sf) | BBB+(sf) | BBB(sf) | BBB-(sf) | BB+(sf) | BB(sf) | BB-(sf) | Below BB-(sf) |
| Creditreform Ratings AG | ||||||||||||
| Long-term rating scale | AAA sf | AA+ sf to AA- sf | A+ sf | A sf | A- sf | BBB+ sf | BBB sf | BBB- sf | BB+ sf | BB sf | BB- sf | Below BB- sf |
| DBRS Ratings Limited | ||||||||||||
| Long-term obligations rating scale | AAA (sf) | AA (high) (sf) to AA (low) (sf) | A (high) (sf) | A (sf) | A (low) (sf) | BBB (high) (sf) | BBB (sf) | BBB (low) (sf) | BB (high) (sf) | BB (sf) | BB (low) (sf) | Below BB (low) (sf) |
| Commercial paper and short-term debt rating scale | R-1 (high) (sf) to R-1 (low) (sf) | R-2 (high) (sf) to R-2 (low) (sf) | R-3 (sf) | Below R-3 (sf) | ||||||||
| FERI EuroRating Services AG | ||||||||||||
| Rating 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 |
| Fitch Ratings | ||||||||||||
| 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 |
| Short-term rating scale | F1+sf, F1sf | F2sf | F3sf | Below Bsf | ||||||||
| Japan Credit Rating Agency Ltd | ||||||||||||
| Long-term issuer ratings scale | AAA | AA+ to AA- | A+ | A | A- | BBB+ | BBB | BBB- | BB+ | BB | BB- | Below BB- |
| Short-term issuer ratings scale | J-1+, J-1 | J-2 | J-3 | Below J-3 | ||||||||
| Kroll Bond Rating Agency | ||||||||||||
| Long-Term Credit | AAA (sf) | AA+ (sf) to AA- (sf) | A+ (sf) | A (sf) | A- (sf) | BBB+ (sf) | BBB (sf) | BBB- (sf) | BB+ (sf) | BB (sf) | BB- (sf) | Below BB- (sf) |
| Short-Term Credit | K1+ (sf), K1 (sf) | K2 (sf) | K3 (sf) | Below K3 (sf) | ||||||||
| Moody's Investors Service | ||||||||||||
| Global long-term rating scale | Aaa(sf) | Aa1(sf) to Aa3(sf) | A1(sf) | A2(sf) | A3(sf) | Baa1(sf) | Baa2(sf) | Baa3(sf) | Ba1(sf) | Ba2(sf) | Ba3(sf) | Below Ba3(sf) |
| Global short-term rating scale | P-1(sf) | P-2(sf) | P-3(sf) | NP(sf) | ||||||||
| Standard & Poor's Ratings Services | ||||||||||||
| Long-term issuer credit ratings scale | AAA (sf) | AA+ (sf) to AA- (sf) | A+ (sf) | A (sf) | A- (sf) | BBB+ (sf) | BBB (sf) | BBB- (sf) | BB+ (sf) | BB (sf) | BB- (sf) | Below BB- (sf) |
| Short-term issuer credit ratings scale | A-1+ (sf), A-1 (sf) | A-2 (sf) | A-3 (sf) | Below A-3 (sf) | ||||||||
| Scope Rating AG | ||||||||||||
| Global long-term rating 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 |
| Global short-term rating scale | S-1+SF, S-1SF | S-2SF | S-3SF | S-4SF | ||||||||