CTHRepealed
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Financial Sector (Collection of Data) (reporting standard) determination No. 14 of 2007 - MRS 300.0 - Statement of Financial Position
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Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 14 of 2007 - MRS 300.0 - Statement of Financial Position.
| Grade | Standard & Poor’s | Moody’s | AM Best | Fitch |
|---|---|---|---|---|
| 1 | AAA | Aaa | A++ | AAA |
| 2 | AA+AAAA- | Aa1Aa2Aa3 | A+ | AA+AAAA- |
| 3 | A+AA- | A1A2A3 | AA- | A+AA- |
| 4 | BBB+BBBBBB- | Baa1Baa2Baa3 | B++B+ | BBB+BBBBBB- |
| 5 | BB+ or below | Ba1 or below | B or below | BB+ or below |
Unrated assets or exposures should be classified as Grade 4.
MDOs should, in general, use the same rating agency for determining counterparty gradings. Where the MDO has counterparties with multiple ratings from two or more of the rating agencies in the table above, the MDO should consistently choose the ratings of a single agency whenever possible. For example, the MDO may have a number of counterparties that are rated by Standard & Poor’s and AM Best. In this case, the MDO should choose a single agency that will be consistently used whenever the individual ratings conflict.