• a: An a Financial Strength Rating signifies very strong, highly predictable profitability, asset quality, liquidity, capital adequacy and franchise value.
   
• b: A b Financial Strength Rating signifies current strong metrics which may not be sustainable.
   
• c: A c Financial Strength Rating is assigned to strong institutions which may be subject to cyclical fluctuations in performance..
   
• d: A d Financial Strength Rating is assigned to sound institutions where protection metrics may lack protective margins and the reliability of forecasts may vary over time.
   
• e: An e Financial Strength Rating signifies conditions that may impair viability or continuity without external support.

IIRA’s Financial Strength Ratings use lower case symbols to differentiate the rating from the standard issue and issuer ratings. They may incorporate modifiers such as plus (+) or minus (-) if finer discrimination seems necessary.

The FSR is assigned predicated largely on the issuer’s internal characteristics, and does not rely on market assessment or presumed regulatory support. Nor is it limited by a sovereign ceiling.

The fundamental rating methodologies employed by the Rating Committee for Financial Strength Ratings are the same as those employed to assign the more comprehensive investment and credit ratings. These may be reviewed on the IIRA web site or requested from the company.