Ratings
| AGENCY | CONTACT | TELEPHONE | RATING | GRADE | SCALE | GRADE | SCALE | LAST UPDATE | OUTLOOK |
|---|---|---|---|---|---|---|---|---|---|
| Fitch Ratings | Fernanda Rezende | (5511) 4504-2600 | Corporate | A | Nacional | BB- | Global | 1Q17 | Negative |
| Perpetual Bond | – | – | BB- | Global | 2Q16 | Stable | |||
| Moody‘s | Juan Acosta | (1) 212-553-1653 | Corporate | Aa2 | Nacional | Ba2 | Global | 1Q16 | Negative |
| Perpetual Bond | – | – | Ba3 | Global | 1Q16 | Negative | |||
| S&P | Luisa Vilhena | (11) 3039-9727 | Corporate | brAA+ | Nacional | BB- | Global | 3T18 | Stable |
| MOODY‘S | FITCH | S&P | QUALITY OF DEBT |
|---|---|---|---|
| Aaa | AAA | AAA | Prime |
| Aa1 | AA+ | AA+ | High Grade |
| Aa2 | AA | AA | |
| Aa3 | AA- | AA- | |
| A1 | A+ | A+ | Upper Medium Grade |
| A2 | A | A | |
| A3 | A- | A- | |
| Baa1 | BBB+ | BBB+ | Lower Medium Grade |
| Baa2 | BBB | BBB | |
| Baa3 | BBB- | BBB- | |
| Ba1 | BB+ | BB+ | Non Investment Grade |
| Ba2 | BB | BB | |
| Ba3 | BB- | BB- | |
| B1 | B+ | B+ | Highly Speculative |
| B2 | B | B | |
| B3 | B- | B- | |
| Caa1 | CCC | CCC+ | Extremely Speculative |
| Caa2 | CCC | CCC | |
| Caa3 | CCC | CCC- | |
| Ca | CCC | CC | |
| – | DDD | D | In Default |
| – | DD | D | |
| – | D | D |