Credit Ratings

Ratings Details

  S&P Moody's Fitch Ratings
Long-term Issuer

BBB+ (OS)
05/24/2021

Baa1 (OS)
08/08/2023
A (OS)
5/18/2021
  Ratings History
 
BBB+ (OS)
6/28/2019
A3 (OS)
7/2/2019
A (OS)
5/20/2019
 
BBB+ (ON)
10/10/2018
A3 (OS)
3/7/2018
A (OS)
1/9/2018
 
BBB+ (ON)
3/27/2020
A3 (OS)
7/2/2019
A (ON)
9/3/2020
 
BBB+ (OS)
6/28/2019
A3 (OS)
3/2/2017
A (ON)
5/6/2020
 
BBB+ (ON)
2/9/2016
A3 (OS)
4/13/2016
A (OS)
5/20/2019
 
A- (ON)
1/29/2015
A2 (WN)
2/16/2016
A (OS)
5/23/2018
Short-term/Commercial Paper
- -
F1
9/3/2020
  Ratings History
 
BBB+ (OS)
6/28/2019
A3 (OS)
7/2/2019
A (OS)
5/20/2019
 
BBB+ (ON)
10/10/2018
A3 (OS)
3/7/2018
A (OS)
1/9/2018
  - -
F1
9/3/2020
  - -
F1
5/6/2020
  - -
F1
5/20/2019
  - -
F1
5/23/2018

 

Subsidiaries

  S&P Moody's Fitch Ratings

Long-term Issuer
A- (OS)
5/24/2021
Baa1 (OS)
08/08/2023
A (OS)
5/18/2021
Subordinated Debt
BBB+
10/10/2018
-
-
-
-
Short-term/Commercial Paper
A-2
10/10/2018
P-2
08/08/2023
F1
9/3/2020
Certificate of Deposit

-
-

A1 (OS)
08/08/2023
A+
9/3/2020
Bank Individual
-
-
-
-
a
9/3/2020

 

Ratings Scale

Long-Term Ratings

Fitch
Highest Credit Quality AAA AAA(EXP) AAApre
Very High Credit Quality AA+ AA+(EXP) AA AA(EXP) AA- AA-(EXP)
High Credit Quality A+ A+(EXP) A A(EXP) A- A-(EXP)
Good Credit Quality BBB+ BBB+(EXP) BBB BBB(EXP) BBB- BBB-(EXP)
Speculative BB+ BB+(EXP) BB BB(EXP) BB- BB-(EXP)
Highly Speculative B+ B+(EXP) B B(EXP) B- B-(EXP)
High Default Risk CCC+ CCC+(EXP) CCC CCC(EXP) CCC- CCC-(EXP) CC CC(EXP) C
Default DDD DD D
Moody's
Highest Quality (P)Aaa Aaa
High Quality Aa1 (P)Aa1 (P)Aa2 Aa2 Aa3 (P)Aa3
Upper-Medium Quality (P)A1 A1 A2 (P)A2 (P)A3 A3
Medium-Grade Quality Baa1 (P)Baa1 (P)Baa2 Baa2 Baa3 (P)Baa3
Substantial Risk (P)Ba1 Ba1 Ba2 (P)Ba2 (P)Ba3 Ba3
High Risk B1 (P)B1 (P)B2 B2 B3 (P)B3
Very High Risk (P)Caa1 Caa1 Caa2 (P)Caa2 (P)Caa3 Caa3
Highly Speculative (P)Ca Ca
Default C (P)C
S&P
Extremely Strong AAA AAApi AAAt
Very Strong AA+ AA+pi AA+t AApi Aat AA AA- AA-pi AA-t
Strong A+ A+pi A+t Api At A A- A-pi A-t
Adequate BBB+ BBB+pi BBB+t BBB BBBpi BBBt BBB- BBB-pi BBB-t
Less Vulnerable BB+ BB+pi BB+t BB BBpi BBt BB- BB-pi BB-t
More Vulnerable B+ B+pi B+t B Bpi Bt B- B-pi B-t
Currently Vulnerable CCC+ CCC+pi CCC+t CCCpi CCCt CCC CCC- CCC-pi CCC-t
Highly Vulnerable CCpi CCt CC C+ C+pi C+t C Cpi Ct
Selective Default SD SDpi SDt
Default D+ D+pi D+t Dpi Dt D
Regulatory Supervision R Rpi Rt

 

Short-Term Ratings

Fitch
Exceptionally High Quality F1+ F1+(EXP)
High Quality F1 F1(EXP)
Good Quality F2 F2(EXP)
Fair Quality F3 F3(EXP)
Speculative B B(EXP)
High Default Risk C C(EXP)
Default D D(EXP)
Moody's
Superior (P)MIG 1 (P)P-1 (P)VMIG 1 MIG 1 P-1 VMIG 1
Strong VMIG 2 P-2 MIG 2 (P)VMIG 2 (P)P-2 (P)MIG 2
Acceptable (P)MIG 3 (P)P-3 (P)VMIG 3 MIG 3 P-3 VMIG 3
Not Prime NP (P)NP
S&P
Extremely Strong A-1+
Strong A-1
Satisfactory A-2
Adequate A-3
More Vulnerable B B-1 B-2 B-3
Highly Vulnerable C
Selective Default SD
Default D
Regulatory Supervision R

 

Financial Strength Ratings

Fitch
Exceptionally Strong AAA AAAq
Very Strong
AA+ AA+q AAq AA AA- AA-q
Strong A+ A+q Aq A A- A-q
Good BBB+ BBB+q BBBq BBB BBB- BBB-q
Moderately Weak BB+ BB+q BB BBq BB- BB-q
Weak B+ B+q B Bq B- B-q
Very Weak CCC+ CCC+q CCCq CCC CCC- CCC-q CCq CC Cq C
Distressed DDD DDDq DDq DD Dq D
Moody's
Exceptional Security Aaa
Excellent Security Aa1 Aa2 Aa3
Good Security A1 A2 A3
Adequate Security Baa1 Baa2 Baa3
Questionable Security Ba1 Ba2 Ba3
Poor Security B1 B2 B3
Very Poor Security Caa1 Caa2 Caa3
Extremely Poor Security Ca C
S&P
Extremely Strong AAA AAApi
Very Strong AA+ AA+pi AApi AA AA- AA-pi
Strong A+ A+pi Api A A- A-pi
Good BBB+ BBB+pi BBBpi BBB BBB- BBB-pi
Marginal BB+ BB+pi BB BBpi BB- BB-pi
Weak B+ B+pi B Bpi B- B-pi
Very Weak CCC+ CCC+pi CCCpi CCC CCC- CCC-pi
Extremely Weak CCpi CC
Regulatory Action R
 
Issuer ratings are S&P/Moody's/Fitch respectively. A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.
 
Copyright© 2020, Fitch Ratings, Inc., Fitch Ratings, Ltd. and its subsidiaries (“Fitch”). Reproduction of the Fitch credit ratings in any form is prohibited except with the prior written permission of Fitch. Fitch does not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and is not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of ratings. FITCH GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Fitch shall not be liable for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or profits and opportunity costs or losses caused by negligence) in connection with any use of the Fitch credit ratings. Fitch’s ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. Fitch credit ratings do not address the market value of securities or the suitability of securities for investment purposes, and should not be relied on as investment advice.