CQS

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All other

A.M. Best (EU) Rating Services B.V.

Long-term issue credit rating scale

aaa(sf)

aa+(sf)

aa(sf)

aa-(sf)

a+(sf)

a(sf)

a-(sf)

bbb+(sf)

bbb(sf)

bbb-(sf)

bb+(sf)

bb(sf)

bb-(sf)

b+(sf)

b(sf)

b-(sf)

ccc+(sf), ccc(sf), ccc-(sf)

Below ccc-(sf)

Short-term issue rating scale

AMB-1+(sf), AMB-1(sf)

AMB-2(sf)

AMB-3(sf)

Below AMB-3(sf)

ARC Ratings S.A.

Medium- and long-term issue rating scale

AAASF

AA+SF

AASF

AA-SF

A+SF

ASF

A-SF

BBB+SF

BBBSF

BBB-SF

BB+SF

BBSF

BB-SF

B+SF

BSF

B-SF

CCC+SFCCCSF, CCC-SF

Below CCC-SF

Short-term issue rating scale

A-1+SF, A-1 SF

A-2SF,

A-3SF

Below A-3SF

CQS

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5

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9

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All other

Axesor Risk Management S.L.

Long-term structured finance credit rating scale

AAA(sf)

AA+(sf)

AA(sf)

AA-(sf)

A+(sf)

A(sf)

A-(sf)

BBB+(sf)

BBB(sf)

BBB-(sf)

BB+(sf)

BB(sf)

BB-(sf)

B+(sf)

B(sf)

B-(sf)

CCC+(sf),CCC(sf), CCC-(sf)

Below CCC-(sf)

Creditreform Rating AG

Long-term credit rating scale

AAAsf

AA+sf

AAsf

AA-sf

A+sf

Asf

A-sf

BBB+sf

BBBsf

BBB-sf

BB+sf

BBsf

BB-sf

B+sf

Bsf

B-sf

CCCsf

Below CCCsf

DBRS Ratings GmbH

Long-term obligations rating scale

AAA(sf)

AA(high)(sf)

AA(sf)

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)

B(high)(sf)

B(sf)

B(low)(sf)

CCC(high)(sf), CCC(sf), CCC(low)(sf)

Below CCC(low)(sf)

Commercial paper and short-term debt rating scale

R-1(high)(sf), R-1(middle)(sf), R-1(low)(sf)

R-2(high)(sf), R-2(middle)(sf), R-2(low)(sf)

R-3(sf)

Below R-3(sf)

CQS

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All other

Fitch Ratings Ireland Limited

Long-term rating scale

AAASF

AA+SF

AASF

AA-SF

A+SF

ASF

A-SF

BBB+SF

BBBSF

BBB-SF

BB+SF

BBSF

BB-SF

B+SF

BSF

B-SF

CCCSF

Below CCCSF

Short-term rating scale

F1+SF, F1 SF

F2SF

F3SF

Below F3SF

HR Ratings de México, S.A. de C.V.

Long-term credit rating scale

HR AAA (E)

HR AA+ (E)

HR AA (E)

HR AA- (E)

HR A+ (E)

HR A (E)

HR A- (E)

HR BBB+ (E)

HR BBB (E)

HR BBB- (E)

HR BB+ (E)

HR BB (E)

HR BB- (E)

HR B+ (E)

HR B (E)

HR B- (E)

HR C+ (E)

Below HR C+ (E)

ICAP S.A.

Global credit rating scale

AAASF, AAA-SF

AA+SF

AASF

AA-SF

A+SF

ASF

A-SF

BBB+SF

BBBSF

BBB-SF

BB+SF

BBSF

BB-SF

B+SF

BSF

B-SF

CCC+SF, CCCSF, CCC-SF

Below CCC-SF

CQS

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2

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5

6

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8

9

10

11

12

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14

15

16

17

All other

Japan Credit Rating Agency Ltd

Long-term issue rating scale

AAA

AA+

AA

AA-

A+

A

A-

BBB+

BBB

BBB-

BB+

BB

BB-

B+

B

B-

CCC

Below CCC

Short-term issue rating scale

J-1+, J-1

J-2

J-3

Below J-3

Kroll Bond Rating Agency Europe Limited

Long-term credit rating scale

AAA(sf)

AA+(sf)

AA(sf)

AA-(sf)

A+(sf)

A(sf)

A-(sf)

BBB+(sf)

BBB(sf)

BBB-(sf)

BB+(sf)

BB(sf)

BB-(sf)

B+(sf)

B(sf)

B-(sf)

CCC+(sf), CCC(sf), CCC-(sf)

Below CCC-(sf)

Short-term credit rating scale

K1+(sf), K1(sf)

K2(sf)

K3(sf)

Below K3(sf)

CQS

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2

3

4

5

6

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12

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14

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16

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All other

Moody’s Investors Service

Global long-term rating scale

Aaa(sf)

Aa1(sf)

Aa2(sf)

Aa3(sf)

A1(sf)

A2(sf)

A3(sf)

Baa1(sf)

Baa2(sf)

Baa3(sf)

Ba1(sf)

Ba2 (sf)

Ba3 (sf)

B1 (sf)

B2 (sf)

B3 (sf)

Caa1(sf), Caa2(sf), Caa3(sf)

Below Caa3(sf)

Global short-term rating scale

P-1 (sf)

P-2 (sf)

P-3 (sf)

Below P-3(sf)

Scope Ratings GmbH

Long-term credit rating scale

AAASF

AA+SF

AASF

AA-SF

A+SF

ASF

A-SF

BBB+SF

BBBSF

BBB-SF

BB+SF

BBSF

BB-SF

B+SF

BSF

B-SF

CCCSF

Below CCCSF

Short-term credit rating scale

S-1+SF, S-1SF

S-2 SF

S-3 SF

,

Below S-3 SF

CQS

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3

4

5

6

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10

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12

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14

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16

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All other

S&P Global Ratings Europe Limited

Global long-term issue credit rating scale

AAA(sf)

AA+(sf)

AA(sf)

AA-(sf)

A+(sf)

A(sf)

A-(sf)

BBB+(sf)

BBB(sf)

BBB-(sf)

BB+(sf)

BB(sf)

BB-(sf)

B+(sf)

B(sf)

B-(sf)

CCC+(sf), CCC(sf), CCC-(sf)

Below CCC-(sf)

Global short-term issue credit rating scale

A-1+(sf), A-1(sf)

A-2(sf)

A-3(sf)

Below A-3(sf)