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RATED ENTITIES AND INSTRUMENTS

Here we present all current and past ratings assigned to our client's bonds and other debt instruments. The most recent updates are provided. The ratings for debt instruments that are redeemed are marked with asterisks (*).

CREDIT RATING DEFINITIONS
INVESTMENT GRADE RATING
DEFINITION
mnAAA
have exceptional credit quality and the lowest expectation of default risk.
mnAA
have very high credit quality with a very low default risk.
mnA
have high credit quality with a low default risk.
mnBBB
have medium credit quality with a moderate default risk.
SPECULATIVE GRADE RATING
DEFINITION
mnBB
have speculative credit quality with a slightly increased default risk.
mnB
have highly speculative credit quality with an increased default risk.
mnCCC
have very low credit quality with a high default risk.
mnCC
have very low credit quality and an event of default is very likely.
mnC
have the lowest credit quality and an event of default is imminent.
D
'D' rated entities are in default.
SD
“SD” (selective default) rated entities are in default on certain debt instruments.
Plus (+) and minus (-)
Rating categories are modified by a plus (+) or a minus (-) as necessary to indicate their relative position within the rating category
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