FINANCIAL STRENGTH RATINGS

AAA - Financially in extremely strong condition with positive financial trends; significant strengths in other non-financial areas. Operating environment likely to be highly attractive and stable.

AA - Financially in very strong condition and significant strengths in other non-financial areas. Operating environment likely to be very attractive and stable.

A - Strong financial fundamentals and very favourable non-financial considerations. Operating environment may be unstable but institution’s market position and/or financial strength more than compensate.

BBB - Basically sound overall; slight weaknesses in financial or other factors could be remedied fairly easily. May be limited by unstable operating environment.

BB - One or two significant weaknesses in the bank’s financial makeup could cause problems. May be characterised by a limited franchise; other factors may not be sufficient to avoid a need for some degree of temporary external support in cases of extraordinary adversity. Unstable operating environment likely.

B - Fundamental weaknesses are present in the bank’s financial condition or trends, and other factors are unlikely to provide strong protection from unexpected adversities; in such an event, the need for external support is likely. Bank may be constrained by weak market position and/or volatile operating environment.

C - In a very weak financial condition, either with immediate problems or with limited capacity to withstand adversities. May be operating in a highly volatile operating environment.

D - Extremely weak financial condition and may be in an untenable position.