BAS September 2022 Presentations

BANK INVESTMENTS BOND RA INGS

S & P’s Rating

Moody’s Rating

Description

AAA

Aaa

Highest Grade

QUALITY INVESTMENTS Includes the four highest rating categories and unrated debt securities of equivalent quality

AA

Aa

High Grade

A

A

Upper Medium Grade

BBB

Baa

Lower Medium Grade

Non-Investment Grade Speculative

SUBINVESTMENT QUALITY Includes grades below the four highest rating categories, unrated debt securities of equivalent quality, and defaulted debt securities

BB

Ba

B

B

Highly Speculative

CCC

Caa

Substantial Risks

Extremely Speculative/ Default Imminent

CC/C

Ca

D

C

In Default