MOODY'S IN ASIA

Rating Definitions

Country Ceilings for Foreign Currency Bank Deposits

Moody’s assigns a ceiling for foreign-currency bank deposits and loans to every country (or distinct monetary area) in which there are rated obligors. The ceiling specifies the highest rat-ing that can be assigned to foreign-currency denominated deposit obligations of 1) domestic and foreign branches of banks headquartered in that domicile (even if subsidiaries of foreign banks); and 2) domestic branches of foreign banks. In addition, this ceiling applies to foreign-currency denominated syndicated loans and other non-bond obligations of issuers subject to the authority of the government of that domicile.