Credit rating
PBG S.A. holds credit rating assigned by two leading international rating agencies: Standard and Poor’s (S&P) and Moody’s.
| S&P | Moody’s | |
|---|---|---|
| Rating |
B+ |
B2 |
| Rating outlook |
negative, credit watch |
stable |
| Date of rating assignment |
May 9, 2012 |
December 22, 2011 |
Announcement dated May 9, 2012
Definitions and methodologies of S&P:
http://www.standardandpoors.com/ratings/en/eu/
Announcement dated October 28, 2011
Definitions and methodologies of S&P:
http://www.standardandpoors.com/ratings/en/eu/
Announcement dated December 22, 2011
Definitions and methodologies of Moody’s:
http://www.moodys.com/researchandratings
Long Term Credit Quality Rating Scale
| S&P | Moody's | ||
|---|---|---|---|
|
Rating |
Meaning |
Rating |
Meaning |
| AAA |
Excellent Quality |
Aaa |
Excellent Quality |
| AA+ |
High Quality |
Aa1 |
High Quality |
| AA | Aa2 | ||
| AA- | Aa3 | ||
| A+ |
Good Quality |
A1 |
Good Quality |
| A | A2 | ||
| A- | A3 | ||
| BBB+ |
|
Baa1 |
|
| BBB | Baa2 | ||
| BBB- | Baa3 | ||
| BB+ |
Questionable Quality/Speculative |
Ba1 |
Questionable Quality/Speculative |
| BB | Ba2 | ||
| BB- | Ba3 | ||
| B+ |
Low Quality/Highly Speculative Ability to meet debt payment over any long period of time may be small |
B1 |
Low Quality/Highly Speculative Ability to meet debt payment over any long period of time may be small |
| B2 | B | ||
| B- | B3 | ||
| CCC+ |
Very Poor Quality. Default is a real possibility |
Caa1 |
Very Poor Quality. Default is a real possibility |
| CCC | Caa2 | ||
| CCC- | Caa3 | ||
| CC |
Default of some kind appears probable |
||
| C |
Imminent default |
Ca |
Imminent default |
| DDD |
Default. Expected recovery of 90%-95% |
C |
Default. Poor perspectives to achieve a position acceptable to invest in the company. |
| DD |
Default. Expected recovery of 50%-90% |
||
| D |
Default. Expected recovery of <50% |
||