Cabecera Corporate


Maximum Credit Quality

Excellent company's capacity to meet its payment obligations. It is reliable with regards to timely payment of future financial obligations.

Very High Level

It maintains a high capacity level to meet its credit obligations, even in the event of any potential changes in the financial environment.

High Level

The company has strong capacity to meet its credit obligations. However, this rating may deteriorate in the event of moderately adverse changes in the financial environment.

Medium/High Level

More than adequate capacity to meet its financial obligations. However, this capacity has a higher probability to deteriorate in the mid-long term than in higher categories.

Medium Level

Adequate capacity to meet its financial obligations.

Medium/Low Level

Although its capacity to meet payment obligations shows no difficulties at present, it may not be maintained over a long period of time.

Low Level

Low capacity to meet its financial obligations. It relies on a favourable financial environment.

Poor Credit Quality

Its capacity to repay its financial obligations is uncertain. High probability of failure to meet some of its payments. High sensitivity to financial environment changes.


Very Poor Credit Quality

High risk of stopping or interrupting payments.

Quality Close to Insolvency

Situation very close to insolvency. Very high risk of payment failure.


Default Status

The company is in default, has payment delays, has been declared insolvent or is currently undergoing insolvency proceedings.