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RATINGS SCALES

The Rating is a qualifying note that evaluates the capacity of a territory, an asset or a development to produce the profitability * that corresponds to it based on the type of activity (urban planning, development, assets), use and level of risk.

In the event of using a real estate asset to issue debt linked to said asset, the rating analyzes the default capacity of said debt, since if the asset does not generate the promised profitability, the issuer of the debt will not have the ability to repay.

It will not produce profitability *, the asset being affected by one or more risk indicators that make it impossible to produce profitability.

The rating ranges from AAA to BBB- are investment assets and from BB + to D are speculative assets that are exposed to indicators that may impair their predictability of obtaining profitability.