\u00a0<\/p>\n
AGENCY<\/p>\n
LONG-TERM<\/p>\n
SHORT-TERM<\/p>\n
OUTLOOK<\/p>\n
LAST REVIEW DATE<\/p>\n
Standard & Poor’s<\/p>\n
BBB+<\/p>\n
A-2<\/p>\n
Stable<\/p>\n
November 16, 2022<\/p>\n
Moody’s<\/p>\n
Baa1<\/p>\n
P-2<\/p>\n
Stable<\/p>\n
December 20, 2022<\/p>\n
Fitch<\/p>\n
BBB+<\/p>\n
F-1<\/p>\n
Stable<\/p>\n
June 1, 2023<\/p>\n
\u00a0<\/p>\n
Ratings can be reviewed, suspended, or withdrawn by the rating agency at any time.<\/p>\n
\u00a0<\/p>\n
Rating agencies<\/p>\n
Here you can consult the definitions of the ratings used by the agencies that assign Repsol’s credit rating:<\/p>\n
\u00a0<\/p>\n
Fitch<\/p>\n
Long-term credit risk ratings:<\/p>\n
BBB\u00a0<\/p>\n
Good credit rating. “BBB” ratings indicate a low credit risk. The ability to repay the principal and interests is satisfactory, although adverse economic conditions and circumstances could affect this ability. \u00a0<\/p>\n
A “+” or “-” can be added to a rating to indicate the relative position within each rating category.<\/p>\n
Short-term credit risk ratings:<\/p>\n
F2<\/p>\n
Good credit rating. It indicates a good intrinsic ability to face up to financial obligations in a timely manner.<\/p>\n
More information: Fitch Ratings<\/a><\/p>\n \u00a0<\/p>\n Moody’s<\/p>\n Moody’s long-term credit risk ratings: preferred bonds and shares<\/p>\n Baa\u00a0<\/p>\n Bonds with a Baa rating that have a moderate credit risk and may have some characteristics inherent to speculative-grade issuances.<\/p>\n Moody’s rates numerically with 1, 2, or 3 in each category. A rating of 1 indicates that the obligation has a rating that appears at the top of the general rating category; a rating of 2 indicates that it has an average rating; and a rating of 3 indicates that it appears at the bottom of its respective category.<\/p>\n P-2\u00a0<\/p>\n Issuers (or supporting institutions) rated Prime-2 have a strong ability to repay short-term debt obligations.<\/p>\n