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Short Description | Long Description (Alpha Rating) | Short Description (Numeric Rating) | Long Description (Alpha Rating) | |
1 | AAA | 8 | BBB+ | |
2 | AA+ | 9 | BBB | |
3 | AA | 10 | BBB- | |
4 | AA- | 11 | BB+ | |
5 | A+ | 12 | BB | |
6 | A | 13 | BB- | |
7 | A- | Etc. |
|
Data
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Moody’s Rating | Fitch Rating | S&P Rating | Composite Rating | |||||
Alpha | Numeric | Alpha | Numeric | Alpha | Numeric | Alpha | Numeric | |
Security 1 | Aa1 | 2 | AA+ | 2 | AA | 3 | AA+ | 2 |
Security 2 | A3 | 7 | AA | 3 | BBB | 9 | AA | 3 |
...
Order | Rating Source |
1 | Moody’s |
2 | Fitch |
3 | S&P |
...
Composite Rating List
Short Description (Numeric Rating) | Long Description (Alpha Rating) | Short Description (Numeric Rating) | Long Description (Alpha Rating) |
1 | AAA | 8 | BBB+ |
2 | AA+ | 9 | BBB |
3 | AA | 10 | BBB- |
4 | AA- | 11 | BB+ |
5 | A+ | 12 | BB |
6 | A | 13 | BB- |
7 | A- | Etc. |
Data
| Moody’s Rating | Fitch Rating | S&P Rating | Composite Rating | |||||
Alpha | Numeric | Alpha | Numeric | Alpha | Numeric | Alpha | Numeric | ||
Security 1 | A3 | 7 | AA | 3 | BBB | 9 | BBB | 9 | |
Security 2 | Aa2 | 3 | AA+ | 2 | AA | 3 | AA | 3 | |
Security 3 | Ba1 | 11 | No Rating | A- | 7 | BB+ | 11 | ||
...
| Info |
|---|
| Note: the bolded values indicate which ratings source was used as a result of the compositing process. |
Security 1 – The S&P rating of BBB (9) was selected since it has the lowest numerical value. The numerical value of 9 was selected from the composite rating list and the associated alpha rating of BBB was also selected.
...
Security 3 – The Moody’s rating of Ba1 (11) is selected since it has the lowest numerical value. The numerical value of 11 was selected from the composite rating list and the associated alpha rating of BB+ was also selected.
Second Best Rating
The Second best methodology selects the rating which is the second highest numerical rating of a group. If all ratings that have been received have the same rating, then this methodology selects the rating based on the hierarchy order. If there are three ratings, and two of the ratings match, the first rating in the vendor hierarchy that matches one of these two ratings is used.
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Short Description (Numeric Rating) | Long Description (Alpha Rating) | Short Description (Numeric Rating) | Long Description (Alpha Rating) |
1 | AAA | 8 | BBB+ |
2 | AA+ | 9 | BBB |
3 | AA | 10 | BBB- |
4 | AA- | 11 | BB+ |
5 | A+ | 12 | BB |
6 | A | 13 | BB- |
7 | A- | Etc. |
|
Data
...
Moody’s Rating | Fitch Rating | S&P Rating | Composite Rating | |||||
Alpha | Numeric | Alpha | Numeric | Alpha | Numeric | Alpha | Numeric | |
Security 1 | A3 | 7 | AA | 3 | BBB | 9 | A- | 7 |
Security 2 | Aa2 | 3 | AA+ | 2 | AA | 3 | AA | 3 |
Security 3 | A2 | 6 | A- | 7 | A | 6 | A | 6 |
Security 4 | Ba1 | 11 | No Rating | A- | 7 | BB+ | 11 | |
Security 5 | No Rating | AAA | 1 | No Rating | AAA | 1 | ||
| Info |
|---|
| Note: the bolded values indicate which ratings source was used as a result of the compositing process. |
...
Short Description (Numeric Rating) | Long Description (Alpha Rating) | Short Description (Numeric Rating) | Long Description (Alpha Rating) |
1 | AAA | 8 | BBB+ |
2 | AA+ | 9 | BBB |
3 | AA | 10 | BBB- |
4 | AA- | 11 | BB+ |
5 | A+ | 12 | BB |
6 | A | 13 | BB- |
7 | A- | Etc. |
|
...
Data
...
Moody’s Rating | Fitch Rating | S&P Rating | Average | Composite Rating | |||||
Alpha | Numeric | Alpha | Numeric | Alpha | Numeric |
| Alpha | Numeric | |
Security 1 | Aa2 | 3 | AA+ | 2 | AA+ | 2 | 2.3 | AA+ | 2 |
Security 2 | A3 | 7 | AA- | 4 | BBB | 9 | 6.6 | A- | 7 |
Security 3 | Ba1 | 11 | No Rating | A- | 7 | 9 | BBB | 9 | |
Security 4 | No Rating | AAA | 1 | No Rating | 1 | AAA | 1 | ||
...