MOODY'S IN ASIA

Rating Definitions

Provisional Ratings

As a service to the market and typically at the request of an issuer, Moody’s will assign a provisional rating when it is highly likely that the rating will become final after all documents are received, or an obligation is issued into the market. A provisional rating is denoted by placing a (P) in front of the rating. Such ratings may be assigned to shelf registrations under SEC rule 415.