The current rating given to Cecabank by the three agencies that rate the company is given below.

Agencia Corto plazo Largo Plazo Perspectiva Última revisión
Moody's P-2 Baa2 Stable 25/03/2021
Fitch F3 BBB Stable 21/06/2022
S&P A2 BBB+ Stable 25/11/2022

When establishing the credit rating for Spanish banks, rating agencies take into account the rating assigned to the Kingdom of Spain, which we include as a reference:

Agencia Corto plazo Largo Plazo Perspectiva Última revisión
Moody's P-2 Baa1 Stable 18/09/2020
Fitch F1 A- Stable 13/12/2019
S&P A-1 TO Stable 18/03/2022

Rating scales for short-term debt used by these agencies are:

Moody's Fitch S&P
Press-1 F1 A-1
Press-2 F2 A-2
Press-3 F3 A-3
B B
C C

Standard & Poor’s and Fitch apply a sign more (+) within the category A-1 and F1. Scales of rating of long-term debt employed by these agencies are the next ones:

Agencia Moody's Fitch S&P
Investment Category Aaa/Aa/A/Baa AAA/AA/A/BBB AAA/AA/A/BBB
Speculative Category Ba/B/Caa/Ca/C BB/B/CCC/CC/C BB/B/CCC/CC/C

Moody’s applies modificadores numerical 1, 2 and 3 to every generic category of rating from Aa until B. The modificador 1 indicates that the obligation is placed at the superior band of each generic rating category; the modificador 2 indicates an average band and the modificador 3 indicates the lower zone of each category genérica.Standard & Poor’s applies a sign more (+) or less (-) in the AA categories to CAC that they indicate the relative position within every category. Fitch applies the same signs from the AAA category onwards.