Mutual Fund Rating Scale May-2019

[SL]AAAmf:  The rating indicates that the underlying portfolio has the lowest credit risk and the highest degree of safety from credit losses.

[SL]AAmf:     The rating indicates that the underlying portfolio has low credit risk and high degree of safety from credit losses.

[SL]Amf:        The rating indicates that the underlying portfolio has adequate credit risk and adequate degree of safety from credit losses.

[SL]BBBmf: The rating indicates that the underlying portfolio has moderate credit risk and moderate degree of safety from credit losses.

[SL]BBmf:     The rating indicates that the underlying portfolio has high credit risk and

                        inadequate degree of safety from credit losses.

[SL]Bmf:        The rating indicates that the underlying portfolio has very high credit risk and low degree of safety from credit losses.

[SL]Cmf:        The rating indicates that the underlying portfolio has extremely high credit risk and very low degree of safety from credit losses.

[SL]Dmf:        The rating indicates that the underlying portfolio has suffered extremely high credit losses.

Note: Modifiers {“+” (plus) / “-“(minus)} can be used with the rating symbols for the categories [SL]AAmf to [SL]Cmf. The modifiers reflect the comparative standing within the category.

May 22, 2019