This is the rating grade, as at the relevant date, of the collateralised or guaranteed counterparty exposure, set according to the long-term and short-term credit rating grades of the counterparty as determined by various rating agencies.For long-term ratings the valid enumerated values are:Grade1 = Standard & Poor's AAA; Moody's Aaa; AM Best Debt aaa; AM Best FSR A++; Fitch AAA;Grade2 = Standard & Poor's AA+, AA, AA-; Moody's Aa1, Aa2, Aa3; AM Best Debt aa+, aa, aa-; AM Best FSR A+; Fitch AA+, AA, AA-;Grade3 = Standard & Poor's A+, A, A-; Moody's A1, A2, A3; AM Best Debt a+, a, a-; AM Best FSR A, A-; Fitch A+, A, A-;Grade4 = Standard & Poor's BBB+, BBB, BBB-; Moody's Baa1, Baa2, Baa3; AM Best Debt bbb+, bbb, bbb-; AM Best FSR B++, B+; Fitch BBB+, BBB, BBB-;Grade5 = Standard & Poor's BB+, BB, BB- ; Moody's Ba1, Ba2, Ba3; AM Best Debt bb+, bb, bb-; AM Best FSR B, B-; Fitch BB+, BB, BB-;Grade6 = Standard & Poor's B+, B, B- ; Moody's B1, B2, B3; AM Best Debt b+, b, b-; AM Best FSR C++, C+, C, C-; Fitch B+, B, B-;Grade7 = Standard & Poor's Below B-; Moody's Below B3; AM Best Debt Below b-; AM Best FSR Below C-; Fitch CCC or Below;For short-term ratings the valid enumerated values are:Grade1 = Standard & Poor's A+, AM Best AMB-1+; Fitch F1+;Grade2 = Standard & Poor's A1; Moody's P1; AM Best AMB-1; Fitch F1;Grade3 = Standard & Poor's A2; Moody's P2; AM Best AMB-2; Fitch F2;Grade4 = Standard & Poor's A3; Moody's P3; AM Best AMB-3; Fitch F3;Grade6 = Standard & Poor's B; Moody's NP Vulnerable; AM Best AMB-4; Fitch B;Grade7 = Standard & Poor's C; Moody's NP Currently Vulnerable; Fitch C; 

Where no eligible collateral or guarantee has been provided, the APRA counterparty grade (if any) of the original counterparty of the underlying asset exposure should be reported.