ANNEX II Mapping table under the ratings-based method as referred to in Article 2
Credit quality step |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
All other |
ARC Ratings SA and ARC Ratings (UK) Limited |
||||||||||||
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 and Scope Ratings UK Limited |
||||||||||||
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 |
||||||||