POSCO INTERNATIONAL

Credit Rating Status

Credit Rating History

Korean Credit Rating Definition

AAA

Capacity for timely payment is extremely strong.
AA

Capacity for timely payment is very strong, but somewhat less than 'AAA'
A

Capacity for timely payment is strong, but somewhat susceptible to external changes in the future.
BBB

Capacity for timely payment is adequate, but more likely to be weakened by future market changes
BB

Capacity for timely payment faces no immediate problems, but speculative in its future stability
B

Capacity for timely payment is poor and speculative.
CCC

Contain the possibility of default
CC

Contain more possibility of default.
C

Highly likely default..
D

In default at the present time.

Global Credit Rating Definition

Credit Rating		Definition
S&P	Moody’s	Definition
AAA	Aaa	Obligations are judged to be of the highest quality, with minimal risk.
AA+, AA, AA-	Aa1, Aa2, Aa3	Obligations are judged to be of high quality and are subject to very low credit risk.
A+, A, A-	A1, A2, A3	Obligations are considered upper-medium-grade and are subject to low credit risk.
BBB+, BBB, BBB-	Baa1, Baa2, Baa3	Obligations are subject to moderate credit risk. They are considered medium-grade and as such may possess speculative characteristics.
BB+,BB, BB-	Ba1, Ba2, Ba3	Obligations are judged to have speculative elements and are subject to substantial credit risk.
B+, B, B-	B1, B2, B3	Obligations are considered speculative and are subject to high credit risk.
CCC or lower	Caa or lower	Obligations are judged to be of poor standing, very near default or in default.