Rating standards of Moody's Rating Company

Moody's rating company's rating standards are divided into long-term debt rating and short-term debt rating.

1. Moody's long-term debt rating (with a maturity of one year or more) is an opinion on the relative credit risk of fixed-income debt, and the original maturity of these debts must be one year or more. These ratings are about the possibility that a financial debt cannot be fulfilled as promised, reflecting the probability of default and any financial losses suffered during the default period. The ratings are divided into aaa, Aa, A, Baa, Ba, B, Caa and Ca.

2. Moody's short-term rating is an opinion on the solvency of the issuer's short-term financing debt. This rating applies to issuers, short-term plans or individual short-term debt instruments. Unless otherwise specified, the original maturity date of such debts is generally not more than thirteen months, and the grades are divided into Prime 1, Prime2, Prime3 and NotPrime.