A fund’s asset class rated in this category displays an excellent capacity to honour its financial commitments.
A fund’s asset class rated in this category maintains an excellent capacity to honour its financial commitments even under adverse changes in the economic environment.
A fund’s asset class rated in this category displays a high capacity to honour its financial commitments. However, this rating may deteriorate under adverse changes in the economic environment more so than the higher rated categories.
A fund’s asset class rated in this category displays a more than adequate capacity to honour its financial commitments. However, this capacity is more likely to deteriorate under adverse changes in the economic environment than the higher rated categories.
This category is the first to incorporate speculative characteristics. A fund’s asset class rated in this category displays an adequate capacity to honour its financial commitments. However, this capacity has weaknesses and it is likely to deteriorate under adverse changes in the economic environment.
A fund’s asset class rated in this category may display the capacity to honour its financial commitments in the short-term however, adverse economic, financial or business conditions will probably impair the asset class ‘ability to meet its financial commitments.
A fund’s asset class rated in this category currently has problems in honouring its financial commitments and therefore relies on favourable economic and financial conditions.
A fund’s asset class rated in this category displays uncertainty in honouring its financial obligations with a high probability of missing some of its payments.
A fund’s asset class rated in this category displays a high risk of interrupting payments.
A fund’s asset class rated in this category is close to default.
The fund’s asset class is in default, has payment delays, has been declared insolvent or is currently undergoing insolvency proceedings.
