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Loan Evaluation:


Rating Standard & Poor's
Rating Moody's

highest quality
AAA.................................... Standard & Poor's
Aaa..................................... Moody's

high quality
AA+, AA, AA.........................Standard & Poor's
Aa1, Aa2, Aa3.......................Moody's

good quality
A+, A, A............................. Standard & Poor's
A1, A2, A3............................Moody's

medium quality
BBB+, BBB, BBB................. Standard & Poor's
Baa1, Baa2, Baa3.................Moody's

speculative values
BB+, BB..............................Standard & Poor's
Ba1, Ba2, Ba3..................... Moody's

very speculatively
B+, B, B- ............................Standard & Poor's
B1, B2, B3 ...........................Moody's


junk bonds
CCC, CC, C.........................Standard & Poor's
Caa, Ca, C ..........................Moody's


Rating agency - Standard und Poors.
Rating agency - Moodys
Rating agency - Fitch Rating

Country Risk Ratings - Coface



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