Investor Relations

Credit Ratings

Credit ratings are currently unavailable.

	Moody's

United Bank

Long-term Issuer	Baa1 11/20/2019
Short-term/Commercial Paper	P-1 11/20/2019
Certificate of Deposit	A1 (OS) 11/20/2019

Ratings Watch Action Legend: (WP) Watch Positive, (WN) Watch Negative, (WU) Watch Uncertain, (WR) Watch Removed, (OP) Outlook Positive, (ON) Outlook Negative, (OS) Outlook Stable, (OD) Outlook Developing

Long-Term Ratings

Fitch

Highest Credit Quality

AAA AAA(EXP) AAApre
Very High Credit Quality

AA+ AA+(EXP) AA AA(EXP) AA- AA-(EXP)
High Credit Quality

A+ A+(EXP) A A(EXP) A- A-(EXP)
Good Credit Quality

BBB+ BBB+(EXP) BBB BBB(EXP) BBB- BBB-(EXP)
Speculative

BB+ BB+(EXP) BB BB(EXP) BB- BB-(EXP)
Highly Speculative

B+ B+(EXP) B B(EXP) B- B-(EXP)
High Default Risk

CCC+ CCC+(EXP) CCC CCC(EXP) CCC- CCC-(EXP) CC CC(EXP) C
Default

DDD DD D

Moody's

Highest Quality

(P)Aaa Aaa
High Quality

Aa1 (P)Aa1 (P)Aa2 Aa2 Aa3 (P)Aa3
Upper-Medium Quality

(P)A1 A1 A2 (P)A2 (P)A3 A3
Medium-Grade Quality

Baa1 (P)Baa1 (P)Baa2 Baa2 Baa3 (P)Baa3
Substantial Risk

(P)Ba1 Ba1 Ba2 (P)Ba2 (P)Ba3 Ba3
High Risk

B1 (P)B1 (P)B2 B2 B3 (P)B3
Very High Risk

(P)Caa1 Caa1 Caa2 (P)Caa2 (P)Caa3 Caa3
Highly Speculative

(P)Ca Ca
Default

C (P)C

S&P

Extremely Strong

AAA AAApi AAAt
Very Strong

AA+ AA+pi AA+t AApi Aat AA AA- AA-pi AA-t
Strong

A+ A+pi A+t Api At A A- A-pi A-t
Adequate

BBB+ BBB+pi BBB+t BBB BBBpi BBBt BBB- BBB-pi BBB-t
Less Vulnerable

BB+ BB+pi BB+t BB BBpi BBt BB- BB-pi BB-t
More Vulnerable

B+ B+pi B+t B Bpi Bt B- B-pi B-t
Currently Vulnerable

CCC+ CCC+pi CCC+t CCCpi CCCt CCC CCC- CCC-pi CCC-t
Highly Vulnerable

CCpi CCt CC C+ C+pi C+t C Cpi Ct
Selective Default

SD SDpi SDt
Default

D+ D+pi D+t Dpi Dt D
Regulatory Supervision

R Rpi Rt

Short-Term Ratings

Fitch

Exceptionally High Quality

F1+ F1+(EXP)
High Quality

F1 F1(EXP)
Good Quality

F2 F2(EXP)
Fair Quality

F3 F3(EXP)
Speculative

B B(EXP)
High Default Risk

C C(EXP)
Default

D D(EXP)

Moody's

Superior

(P)MIG 1 (P)P-1 (P)VMIG 1 MIG 1 P-1 VMIG 1
Strong

VMIG 2 P-2 MIG 2 (P)VMIG 2 (P)P-2 (P)MIG 2
Acceptable

(P)MIG 3 (P)P-3 (P)VMIG 3 MIG 3 P-3 VMIG 3
Not Prime

NP (P)NP

S&P

Extremely Strong

A-1+
Strong

A-1
Satisfactory

A-2
Adequate

A-3
More Vulnerable

B B-1 B-2 B-3
Highly Vulnerable

C
Selective Default

SD
Default

D
Regulatory Supervision

R

Financial Strength Ratings

Fitch

Exceptionally Strong

AAA AAAq
Very Strong

AA+ AA+q AAq AA AA- AA-q
Strong

A+ A+q Aq A A- A-q
Good

BBB+ BBB+q BBBq BBB BBB- BBB-q
Moderately Weak

BB+ BB+q BB BBq BB- BB-q
Weak

B+ B+q B Bq B- B-q
Very Weak

CCC+ CCC+q CCCq CCC CCC- CCC-q CCq CC Cq C
Distressed

DDD DDDq DDq DD Dq D

Moody's

Exceptional Security

Aaa
Excellent Security

Aa1 Aa2 Aa3
Good Security

A1 A2 A3
Adequate Security

Baa1 Baa2 Baa3
Questionable Security

Ba1 Ba2 Ba3
Poor Security

B1 B2 B3
Very Poor Security

Caa1 Caa2 Caa3
Extremely Poor Security

Ca C

S&P

Extremely Strong

AAA AAApi
Very Strong

AA+ AA+pi AApi AA AA- AA-pi
Strong

A+ A+pi Api A A- A-pi
Good

BBB+ BBB+pi BBBpi BBB BBB- BBB-pi
Marginal

BB+ BB+pi BB BBpi BB- BB-pi
Weak

B+ B+pi B Bpi B- B-pi
Very Weak

CCC+ CCC+pi CCCpi CCC CCC- CCC-pi
Extremely Weak

CCpi CC
Regulatory Action

R

Issuer ratings are S&P/Moody’s/Fitch respectively. A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.

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