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      Fitch Ratings
      Ratings History
      BBB- (OS)
      6/13/2022
      BBB- (OS)
      6/15/2021
      BBB- (ON)
      8/6/2020
      BBB- (ON)
      5/8/2020
      BBB- (OS)
      8/16/2019
      BBB- (OS)
      8/24/2018
      Ratings History
      F3
      6/13/2022
      F3
      6/15/2022
      F3
      8/6/2020
      F3
      5/8/2020
      F3
      8/16/2019
      F3
      8/24/2018
      Ratings History
      B+
      6/13/2022
      B+
      6/15/2022
      B+
      8/6/2020
      B+
      5/8/2020
      BB-
      8/16/2019
      BB-
      8/24/2018
      Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing
      Fitch Ratings
      Long-term Issuer BBB- (OS)
      7/14/2023
      Short-term/Commercial Paper F3
      7/14/2023
      Certificate of Deposit BBB
      7/14/2023
      Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing
      Long-Term Ratings   
      • Highest Quality
        (P)Aaa Aaa
      • High Quality
        Aa1 (P)Aa1 (P)Aa2 Aa2 Aa3 (P)Aa3
      • Upper-Medium Quality
        (P)A1 A1 A2 (P)A2 (P)A3 A3
      • Medium-Grade Quality
        Baa1 (P)Baa1 (P)Baa2 Baa2 Baa3 (P)Baa3
      • Substantial Risk
        (P)Ba1 Ba1 Ba2 (P)Ba2 (P)Ba3 Ba3
      • High Risk
        B1 (P)B1 (P)B2 B2 B3 (P)B3
      • Very High Risk
        (P)Caa1 Caa1 Caa2 (P)Caa2 (P)Caa3 Caa3
      • Highly Speculative
        (P)Ca Ca
      • Default
        C (P)C
      • Extremely Strong
        AAA AAApi AAAt
      • Very Strong
        AA+ AA+pi AA+t AApi Aat AA AA- AA-pi AA-t
      • Strong
        A+ A+pi A+t Api At A A- A-pi A-t
      • Adequate
        BBB+ BBB+pi BBB+t BBB BBBpi BBBt BBB- BBB-pi BBB-t
      • Less Vulnerable
        BB+ BB+pi BB+t BB BBpi BBt BB- BB-pi BB-t
      • More Vulnerable
        B+ B+pi B+t B Bpi Bt B- B-pi B-t
      • Currently Vulnerable
        CCC+ CCC+pi CCC+t CCCpi CCCt CCC CCC- CCC-pi CCC-t
      • Highly Vulnerable
        CCpi CCt CC C+ C+pi C+t C Cpi Ct
      • Selective Default
        SD SDpi SDt
      • Default
        D+ D+pi D+t Dpi Dt D
      • Regulatory Supervision
        R Rpi Rt
      Short-Term Ratings   
      • Exceptionally High Quality
        F1+ F1+(EXP)
      • High Quality
        F1 F1(EXP)
      • Good Quality
        F2 F2(EXP)
      • Fair Quality
        F3 F3(EXP)
      • Speculative
        B B(EXP)
      • High Default Risk
        C C(EXP)
      • Default
        D D(EXP)
      • Superior
        (P)MIG 1 (P)P-1 (P)VMIG 1 MIG 1 P-1 VMIG 1
      • Strong
        VMIG 2 P-2 MIG 2 (P)VMIG 2 (P)P-2 (P)MIG 2
      • Acceptable
        (P)MIG 3 (P)P-3 (P)VMIG 3 MIG 3 P-3 VMIG 3
      • Not Prime
        NP (P)NP
      • Extremely Strong
        A-1+
      • Strong
        A-1
      • Satisfactory
        A-2
      • Adequate
        A-3
      • More Vulnerable
        B B-1 B-2 B-3
      • Highly Vulnerable
        C
      • Selective Default
        SD
      • Default
        D
      • Regulatory Supervision
        R
      Financial Strength Ratings   
      • Exceptionally Strong
        AAA AAAq
      • Very Strong
        AA+ AA+q AAq AA AA- AA-q
      • Strong
        A+ A+q Aq A A- A-q
      • Good
        BBB+ BBB+q BBBq BBB BBB- BBB-q
      • Moderately Weak
        BB+ BB+q BB BBq BB- BB-q
      • Weak
        B+ B+q B Bq B- B-q
      • Very Weak
        CCC+ CCC+q CCCq CCC CCC- CCC-q CCq CC Cq C
      • Distressed
        DDD DDDq DDq DD Dq D
      • Exceptional Security
        Aaa
      • Excellent Security
        Aa1 Aa2 Aa3
      • Good Security
        A1 A2 A3
      • Adequate Security
        Baa1 Baa2 Baa3
      • Questionable Security
        Ba1 Ba2 Ba3
      • Poor Security
        B1 B2 B3
      • Very Poor Security
        Caa1 Caa2 Caa3
      • Extremely Poor Security
        Ca C
      • Extremely Strong
        AAA AAApi
      • Very Strong
        AA+ AA+pi AApi AA AA- AA-pi
      • Strong
        A+ A+pi Api A A- A-pi
      • Good
        BBB+ BBB+pi BBBpi BBB BBB- BBB-pi
      • Marginal
        BB+ BB+pi BB BBpi BB- BB-pi
      • Weak
        B+ B+pi B Bpi B- B-pi
      • Very Weak
        CCC+ CCC+pi CCCpi CCC CCC- CCC-pi
      • Extremely Weak
        CCpi CC
      • Regulatory Action
        R

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