Credit Ratings


A credit rating is an evaluation made by a Credit Rating Agency (“CRA”) of the credit risk of a prospective debtor (e.g. a company or a government). The credit rating represents an evaluation of both qualitative and quantitative information for the prospective debtor and may rate the creditworthiness of either Issuers of Debt Obligations or specific Debt Instruments.

Standard & Poor's and Moody's are globally leading CRAs.

For further information on Standard & Poor's rating system, visit their website at:

For further information on Moody’s rating system, visit their website at:

  Standard & Poor’s Moody’s
Rating BBΒ- Ba2
(on an unsolicited basis)
Outlook Outlook Stable Outlook Stable
Last Rating change October 2019 March 2019
Analysts Thibaud Lagache Carlos Winzer