Credit Ratings definitions

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• Definitions of long term credit rating of Barclays Bank PLC

  • Standard & Poor's

    "An obligor rated ‘AA’ has very strong capacity to meet its financial commitments. It differs from the highest rated obligors only to a small degree."

  • Moody's

    "Obligations rated ‘Aa’ are judged to be of high quality and are subject to very low credit risk."

    "Banks rated ‘Aa’ for deposits offer excellent credit quality, but are rated lower than ‘Aaa’ banks because their susceptibility to long-term risks appears somewhat greater. The margins of protection may not be as great as with Aaa-rated banks, or fluctuations of protective elements may be of greater amplitude."

  • Fitch Ratings

    "Very high credit quality.'AA' ratings denote expectations of very low default risk. They indicate very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events."

  • DBRS Ratings

    "Long-term debt rated AA is of superior credit quality, and protection of interest and principal is considered high. In many cases they differ from long-term debt rated AAA only to a small degree. Given the extremely restrictive definition DBRS has for the AAA category, entities rated AA are also considered to be strong credits, typically exemplifying above average strength in key areas of consideration and unlikely to be significantly affected by reasonably foreseeable events."

• Definitions of short term credit rating of Barclays Bank PLC

  • Standard & Poor's

    "An obligor rated 'A-1' has strong capacity to meet its financial commitments. It is rated in the highest category by Standard & Poor's. Within this category, certain obligors are designated with a plus sign (+). This indicates that the obligor's capacity to meet its financial commitments is extremely strong."

  • Moody's

    "Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations."

  • Fitch Ratings

    "[F1 ratings represent]…highest short-term credit quality. Indicates the strongest intrinsic capacity for timely payment of financial commitments; may have an added "+" to denote any exceptionally strong credit feature."

  • DBRS Ratings

    "Short-term debt rated R-1 (high) is of the highest credit quality, and indicates an entity possessing unquestioned ability to repay current liabilities as they fall due. Entities rated in this category normally maintain strong liquidity positions, conservative debt levels, and profitability that is both stable and above average. Companies achieving an R-1 (high) rating are normally leaders in structurally sound industry segments with proven track records, sustainable positive future results, and no substantial qualifying negative factors. Given the extremely tough definition DBRS has established for an R-1 (high), few entities are strong enough to achieve this rating."