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Rating Scale
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| AAA |
Exreme y strong capacity to meet its financial obligations. Excellent operation. Very stable and highly unlikely to be adversely affected by foreseeaole events. |
| AA |
Very strong capacity to meet its financial obligations. Very good operations. Stable and unlikely to be adversely affected by foreseeable events. |
| A |
Strong capacity to meet its finacial obligations. Very good operations. Stable event if it could be affected by major internal or external events. |
| BBB |
Adequate capacity to meet its financiale obligations. Good operations. Quite stable even if it could be affected by significant internal or external events. |
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| BB |
Limited vulnerable capacity to meet its financial obligations. Adequate operations. Quite stable even if it could be affected by internal or external events. |
| B |
Partially vulnerable capacity to meet its financial obligations. Sufficient operations. Not completely stable and vulnerable to internal or external events. |
| CCC |
Vulnerable capacity to meet its financial obligations. Basic operations. Potentially unstable and vulnerable to external or internal events. |
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| CC |
Highly vulnerable capacity to meet its financial obligations. Basic operations. Potentially unstable and vulnerable to external or internal events. |
| C |
Highly vulnerable capacity to meet its financial obligations. Poor operations. Potentially unstable and vulnerable to external or internal events. |
| D |
Very high vulnerable capacity to meet its financial obligations. Very poor operations. Unstable and very vulnerable to external or internal events. |
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| The rating grade can be corrected with a + or - sign, which implies a slight positive or negtive variation respect to the main grade. |
