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Domestic

Domestic Credit Ratings

Rating Agency		Corporate Bond	Commercial Paper
Domestic	KMCC	AA+	-
	KIS	AA+	-
	NICE	AA+	-

Rating Definition

Corporate Bond

Rating	Definition
AAA	Principle amount payment ability is the best
AA	Principle amount payment ability is very outstanding but inferior to AAA to some extent
A	Principle amount payment ability is outstanding but a potential drop of efficiency exists in future principle amount
BBB	Principle amount payment ability is satisfactory but a potential drop of efficiency exists in future principle amount payment ability depending on economic circumstances and aggravation of surrounding situations
BB	No current problem exists regarding principle amount payment, but potential speculative factors exist regarding future stability of repayment ability
B	Speculative outlook due to lack of principle amount payment ability and interest payment is uncertain in case of economic slump
CCC	Insecure state regarding currently insecure principle amount payment and very speculative outlook due to possibility of unfulfillment of obligatory debt repayment
CC	More insecure compared to superior grades
C	High possibility of unfulfillment of obligatory debt repayment and no ability of principle amount payment
D	Under situation of unfulfillment of obligatory debt repayment and bankruptcy

Commercial Paper

Rating	Definition
Investment Grade	A1	The ability of repayment on proper time is the best and stability of repayment ability is the best
	A2	The ability of repayment on proper time is outstanding, but stability is inferior to A1 to some extent
	A3	The ability of repayment on proper time is satisfactory, but stability is inferior to A2 to some extent
Speculative Grade	B	The ability of repayment on proper time is proper, but potential speculative factors exist in the stability depending on short-term changes in circumstances
	C	Various speculative factors exist in the ability of repayment on proper time and stability of repayment ability
	D	Incapable of repayment