SCHEDA - Zona euro, rating sovrani e debito in circolazione

mercoledì 6 luglio 2011 11:16
 

 July 6 (Reuters) - Below is a list of euro zone sovereign ratings currently assigned by
Standard & Poor's, Moody's, Fitch and smaller rival DBRS, whose ratings also determine whether
the European Central Bank accepts the bonds as collateral. On Tuesday, Moody's cut Portugal
ratings to Ba2. [ID:nN1E764185]
 
           S&P       Moody's     Fitch     DBRS    Debt on issue
                                                           (USD bln)*
 Austria       AAA        Aaa         AAA      AAA         $277
 Belgium       AA+        Aa1         AA+      ---         $448
 Cyprus        A-         A2          A-       ---          $16
 Estonia       A          A1          A+       ---           $0
 Finland       AAA        Aaa         AAA      ---         $105
 France        AAA        Aaa         AAA      AAA       $1,872
 Germany       AAA        Aaa         AAA      AAA       $1,593
 Greece        CCC        Caa1        B+       ---         $390
 Ireland       BBB+       Baa3        BBB+     A           $130
 Italy         A+         Aa2         AA-      AA (low)  $2,267
 Luxembourg    AAA        Aaa         AAA      ---           $6
 Malta         A          A1          A+       ---           $6
 Netherlands   AAA        Aaa         AAA      AAA         $449
 Portugal      BBB-       Ba2         BBB-     BBB (high)  $184
 Slovakia      A+         A1          A+       ---          $38
 Slovenia      AA         Aa2         AA       ---          $20
 Spain         AA         Aa2         AA+      AA          $884
 
  * USD equivalent, according to Reuters CreditViews

 ******************** LONG-TERM CREDIT RATINGS*****************
 STANDARD & POOR'S            MOODY'S                  FITCH
 --------------------- INVESTMENT GRADE RATINGS ---------------
  AAA                      Aaa                     AAA
  Obligations for which there is the lowest expectation of investment risk. Capacity for
timely repayment of principal and interest is substantial, such that adverse changes in
business, economic or financial conditions are unlikely to increase investment risk
substantially.
  AA                        Aa                      AA
  Obligations for which there is a very low expectation of investment risk. Capacity for
timely repayment of principal and interest is substantial. Adverse changes in business,
economic or financial conditions may increase investment risk albeit not very significantly.
  A                         A                       A
  Obligations for which there is a low expectation of investment risk. Capacity for timely
repayment of principal and interest is strong, although adverse changes in business, economic
or financial conditions may lead to increased investment risk.
  BBB                       Baa                     BBB
  Obligations for which there is currently a low expectation of investment risk. Capacity
for timely repayment of principal and interest is adequate, although adverse changes in
business, economic or financial conditions are more likely to lead to increased investment
risk than for obligations in previous categories.
 --------------- SPECULATIVE GRADE RATINGS --------------------
  BB                        Ba                       BB
  Obligations for which there is a possibility of investment risk developing. Capacity for
timely repayment of principal and interest exists but is susceptible over time to adverse
changes in business, economic or financial conditions.
  B                         B                        B
  Obligations for which investment risk exists. Timely repayment of principal and interest
is not sufficiently protected against adverse changes in business, economic or financial
conditions.
  CCC                       Caa                      CCC
  Obligations for which there is a current perceived possibility of default. Timely
repayment of principal and interest is dependent on favourable business, economic or financial
conditions.
  CC                        Ca                       CC
  Obligations which are highly speculative.
  C                         C                        C
  This rating may be used to cover a situation where a bankruptcy petition has been filed
or similar action has been taken, but payments on this obligation are continued.
  D                                              DDD/DD/D
  Obligations which are currently in default. Fitch DDD designates the highest potential
for recovery of amounts outstanding on any securities involved, and D the lowest recovery
potential.
 ** S&P and Fitch ratings from AA to CCC may be modified by a plus or minus sign to show
relative standing within the major rating categories. DBRS adds a 'high' or 'low' to its
ratings.
 ** S&P ratings may have an 'r' attached to the ratings of instruments with significant
non-credit risks to highlight risks to principal or volatility of expected returns which are
not addressed in the credit rating.
 ** Moody's applies numerical modifiers 1, 2 and 3 in each generic rating classification
from Aa through B. Modifier 1 indicates the obligation is ranked at the higher end of its
generic rating.