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Short-Term Ratings

Moody's employs the following designations to indicate the relative repayment ability of rated short-term debt issuers:

• P-1 -- Issuers rated Prime-1 have a superior ability to repay short-term debt obligations.
• P-2 -- Issuers rated Prime-2 have a strong ability to repay short-term debt obligations.
• P-3 -- Issuers rated Prime-3 have an acceptable ability to repay short-term obligations.
• NP -- Issuers rated Not Prime do not fall within any of the Prime rating categories.

Moody's best Credit Rating for short-term notes is therefore $\boxed{\text{P-1}}$ .

For more, see Glossary of Moody's Rating Terms .