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