CTHIn ForceLegislation
Banking (prudential standard) determination No. 2 of 2025
Mapping of credit rating gradesMapping of credit rating grades
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Mapping of credit rating grades
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Where the ECAI is S&P Global Ratings, Moody’s or Fitch Ratings, ratings must be mapped in accordance with Table 21 and Table 22.
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Recognised long-term ratings and equivalent credit rating grades
| Credit rating grade | S&P Global Ratings | Moody’s | Fitch Ratings |
|---|---|---|---|
| 1 | AAAAA+AAAA- | AaaAa1Aa2Aa3 | AAAAA+AAAA- |
| 2 | A+AA- | A1A2A3 | A+AA- |
| 3 | BBB+BBBBBB- | Baa1Baa2Baa3 | BBB+BBBBBB- |
| 4 | BB+BBBB- | Ba1Ba2Ba3 | BB+BBBB- |
| 5 | B+BB- | B1B2B3 | B+BB- |
| 6 | CCC+CCCCCC-CCCD | Caa1Caa2Caa3CaC | CCC+CCCCCC-CCCD |
- Recognised short-term ratings and equivalent credit rating grades
| Credit rating grade | S&P Global Ratings | Moody’s | Fitch Ratings |
|---|---|---|---|
| 1 | A-1 | P-1 | F-1 |
| 2 | A-2 | P-2 | F-2 |
| 3 | A-3 | P-3 | F-3 |
| 4 | Others | Others | Others |