| June | September | December | |||||||||||||||||||||
| ML Ratings (R1, R2, R3) & Probs. (P1, P2, P3) | S&P | Moody’s | ML Ratings (R1, R2, R3) & Probs. (P1, P2, P3) | S&P | Moody’s | ML Ratings (R1, R2, R3) & Probs. (P1, P2, P3) | S&P | Moody’s | |||||||||||||||
| R1 | P1 | R2 | P2 | R3 | P3 | R1 | P1 | R2 | P2 | R3 | P3 | R1 | P1 | R2 | P2 | R3 | P3 | ||||||
| A+ | 0.30 | A | 0.24 | AA− | 0.23 | A | A1 | A+ | 0.30 | AA− | 0.28 | A | 0.26 | A | Aa3 | A+ | 0.30 | A | 0.26 | AA− | 0.23 | A | Aa3 |
| A | 0.32 | A+ | 0.17 | A+ | A1 | A | 0.33 | A+ | 0.21 | A+ | A1 | A | 0.31 | A+ | 0.20 | A− | 0.17 | A+ | A1 | ||||
| A | 0.30 | A+ | 0.27 | A− | 0.16 | A | A1 | A | 0.36 | A+ | 0.22 | A− | 0.18 | A | A1 | A | 0.40 | A− | 0.20 | A+ | 0.20 | A | A1 |
| A | 0.30 | A+ | 0.27 | A− | 0.16 | A | A1 | A | 0.34 | A+ | 0.25 | A− | 0.18 | A | A1 | A | 0.35 | A+ | 0.25 | A− | 0.18 | A | A1 |
| A | 0.23 | A+ | 0.22 | A− | 0.18 | A | A | 0.28 | A+ | 0.23 | A− | 0.21 | A | A | 0.30 | A+ | 0.21 | A+ | 0.21 | A | |||
| A | 0.23 | A− | 0.21 | A+ | 0.17 | A | A1 | A | 0.24 | A− | 0.23 | A+ | 0.17 | A | A1 | A | 0.26 | A− | 0.17 | AA− | 0.16 | A | A1 |
| A+ | 0.28 | A | 0.22 | AA− | 0.15 | A | Aa3 | A+ | 0.28 | A | 0.23 | AA− | 0.16 | A | Aa3 | A+ | 0.28 | A | 0.19 | AA− | 0.17 | A | Aa3 |
| A− | 0.41 | A+ | 0.18 | BBB+ | 0.16 | A− | A3 | A− | 0.34 | A+ | 0.21 | A | 0.16 | A− | A3 | A− | 0.38 | A+ | 0.20 | A− | A2 | ||
| A+ | 0.25 | BBB+ | 0.20 | BBB | 0.17 | BBB | Baa3 | A | 0.18 | A− | 0.17 | BBB+ | 0.16 | BBB | Baa3 | A | 0.17 | BBB | 0.16 | BBB+ | 0.16 | BBB | Baa3 |
| A− | 0.32 | A+ | 0.22 | A | 0.16 | A | A1 | A+ | 0.26 | A− | 0.25 | A | 0.20 | A | A1 | A− | 0.30 | A+ | 0.27 | AA− | 0.16 | A | A1 |
| A+ | 0.32 | A | 0.21 | AA− | 0.21 | A1 | A+ | 0.31 | A | 0.24 | AA− | 0.18 | Aa3 | A+ | 0.31 | A | 0.24 | AA− | 0.17 | Aa3 | |||
| A | 0.23 | A− | 0.21 | A+ | 0.16 | A | Aa3 | A | 0.28 | A− | 0.20 | A+ | 0.16 | A | Aa3 | A | 0.26 | A− | 0.24 | A | Aa3 | ||
| A− | 0.37 | BBB+ | 0.17 | A+ | 0.16 | BBB+ | Baa1 | A− | 0.40 | A | 0.21 | A+ | 0.16 | BBB+ | Baa1 | A− | 0.36 | A | 0.21 | A+ | 0.16 | BBB+ | A3 |
| A | 0.24 | BBB+ | 0.21 | A− | 0.20 | BBB+ | Baa2 | A | 0.24 | A+ | 0.23 | BBB+ | 0.20 | BBB+ | Baa2 | A | 0.24 | A+ | 0.23 | BBB+ | 0.18 | BBB+ | Baa2 |
| A− | 0.24 | A+ | 0.21 | A | 0.18 | BBB+ | Baa2 | A+ | 0.25 | A− | 0.24 | BBB+ | 0.17 | BBB+ | A3 | A+ | 0.22 | A | 0.21 | A− | 0.20 | BBB+ | A3 |
| A− | 0.30 | A+ | 0.21 | BBB+ | 0.15 | Aa2 | A+ | 0.24 | BBB+ | 0.21 | A− | 0.20 | Aa2 | A− | 0.24 | A+ | 0.21 | BBB+ | 0.18 | Aa2 | |||
| A− | 0.24 | A+ | 0.18 | A | 0.17 | A | A1 | A− | 0.23 | A | 0.23 | A+ | 0.19 | A | A1 | A | 0.21 | A− | 0.20 | A+ | 0.16 | A | A1 |
| A | 0.24 | A+ | 0.23 | BBB+ | 0.17 | A | A2 | A+ | 0.26 | A | 0.24 | BBB+ | 0.17 | A | A2 | A | 0.24 | A+ | 0.23 | A− | 0.18 | A | A2 |
| A− | 0.45 | A+ | 0.23 | A− | A3 | A− | 0.38 | A+ | 0.25 | A− | A3 | A− | 0.38 | A+ | 0.21 | A− | A2 | ||||||
| A+ | 0.27 | BBB+ | 0.26 | A | 0.15 | BBB+ | A3 | A+ | 0.26 | BBB+ | 0.24 | A | 0.20 | BBB+ | A3 | A+ | 0.24 | BBB+ | 0.20 | A | 0.19 | BBB+ | A3 |
| A− | 0.24 | AA− | 0.23 | A+ | 0.21 | AA− | Aa1 | A+ | 0.25 | AA− | 0.24 | A | 0.21 | AA− | Aa1 | AA− | 0.24 | A+ | 0.23 | A− | 0.20 | AA− | Aa1 |
| A+ | 0.27 | BBB+ | 0.21 | A− | 0.16 | BBB+ | A2 | A+ | 0.27 | BBB+ | 0.24 | A− | 0.19 | BBB+ | A2 | A+ | 0.25 | BBB+ | 0.24 | A− | 0.15 | BBB+ | A2 |
| A+ | 0.22 | A | 0.19 | A− | 0.17 | A− | A | 0.25 | A+ | 0.22 | AA− | 0.16 | A− | A | 0.25 | A+ | 0.22 | A− | 0.18 | A− | |||
| A− | 0.35 | A+ | 0.26 | AA− | Aa1 | A+ | 0.28 | A− | 0.24 | A | 0.17 | AA− | Aa1 | A+ | 0.25 | A− | 0.24 | A | 0.15 | AA− | Aa1 | ||
| A− | 0.45 | A+ | 0.23 | A− | A2 | A− | 0.35 | A+ | 0.25 | A | 0.15 | A− | A2 | A− | 0.25 | A | 0.15 | A+ | 0.20 | A− | A2 | ||