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SHORT TERM RATING DEFINITIONS
A-1
Obligor with the strongest capacity for timely repayment of obligations relative to other issuers or issues in the country.
A-2
Obligor with strong capacity for timely repayment of obligations relative to other issuers or issues in the country.
A-3
Obligor with adequate capacity for timely repayment of obligations relative to other issuers or issues in the country.
B-1
Obligor with uncertain capacity for timely repayment of obligations relative to other issuers or issues in the country.
B-2
A significantly weak credit risk relative to other issuers or issues in the country.
B-3
An extremely weak credit risk relative to other issuers or issues in the country.
LONG TERM RATING DEFINITIONS
AAA (90% and above)
Obligor with impeccable financial condition and overwhelming capacity to meet local currency obligations in a timely manner.
AA (80% to 89%)
Obligor with very strong financial condition and very strong capacity to meet local currency obligations in a timely manner.
A (70% to 79%)
Obligor with good financial condition and strong capacity to meet local currency obligations in a timely manner.
BBB (60% to 69%)
Obligor with satisfactory financial condition and adequate capacity to meet local currency obligations in a timely manner.
BB (50% to 59%)
Obligor with satisfactory financial condition but ability to meet local currency obligations in a timely manner may be contingent upon refinancing.
B (40% to 49%)
Obligor with weak financial condition and ability to meet local currency obligations in a timely manner is contingent on refinancing.
CCC (30% to 39%)
Obligor with very weak financial condition and cash flows to meet obligations are inadequate therefore likelihood of default is high.
CC (20% to 29%)
Obligor with very weak financial condition and cash flows to meet obligations are grossly inadequate therefore likelihood of default is very high.
C (Below 20%)
Obligor with very weak financial condition and cash flows to meet obligations are grossly inadequate, obligor already in default or will almost certainly be.
TENURE OF RATINGS
Agusto & Co's ratings are mostly short tenored ratings not exceeding 12 months. However the ratings assigned to issues are for the tenor of the issues. The ratings of the issues will be monitored through out the life of the rating.
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