Our credit ratings are used for release to the public or private market or, where applicable, for internal (confidential) administrative use only.

They are distributed, where applicable, on the following basis:

■ Public Ratings: Published through our website and various news outlets, for issuers of publicly rated securities or private loan transactions of any size.

■ Private Rating: Distributed to designated third parties via a secure website.

■ Confidential Rating: Not released to the outside world, only provided for internal use by customers.