Credit rating definitions

Definitions of long-term, short-term and standalone credit ratings from Standard & Poor's, Moody’s and Fitch

Unless otherwise stated, definitions are as published by the relevant rating agency and available on its website.

 

Long-terms credit rating definitions

Moody's
A: obligations rated 'A' are considered upper-medium grade and are subject to low credit risk.

Short-term credit rating definitions

Moody's
A: obligations rated 'A' are considered upper-medium grade and are subject to low credit risk.

Standalone credit rating definitions

Fitch Ratings – Viability Rating (VR)
a: high fundamental credit quality. 'a' ratings denote strong prospects for on-going viability. Fundamental characteristics are strong and stable, such that it is unlikely that the bank would have to rely on extraordinary support to avoid default. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings.

Moody's – Bank Financial Strength Rating (BFSR)
C: banks rated 'C' possess adequate intrinsic financial strength. Typically, they will be institutions with more limited but still valuable business franchises. These banks will display either acceptable financial fundamentals within a predictable and stable operating environment, or good financial fundamentals within a less predictable and stable operating environment.

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