Credit Ratings

(as of June 30, 2026)

Rating Organization	Long-term	Short-term	Rating Definitions
Moody's	A1	-	Obligations rated A are judged to be upper-medium grade and are subject to low credit risk.
Standard & Poor's	A+	-	An obligation rated 'A' is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor's capacity to meet its financial commitments on the obligation is still strong.
Rating and Investment Information, Inc.	AA+	a-1+	Long-term：Very high creditworthiness supported by some excellent factors. Short-term：Certainty of the fulfillment of a short-term obligation is high. (A plus (＋) sign may be appended to the a-1 category to indicate a particularly high level of the certainty.)