Ratings evolution

Abengoa credit ratings

	Rating	Outlook	Last review	Previous rating and outlook
Moody´s	Ca	Negative	13/02/2016	Caa3/Negative
Standard & Poor's	SD	n/a	16/12/2015	CCC-/Negative

Credit ratings can be reviewed, suspended or withdrawn by the rating agency at any momento in time.

^{The senior unsecured bonds issued by Abengoa S.A.have a rating of Ca from Moody's , CCC- from S&P}

Historic credit ratings of the latest fiscal year

Historic credit ratings of the latest fiscal year

	Moodys	S&P	Fitch
Initial 2015	jan-15	jan-15	jan-15
Rating	B2	B	B+
Outlook	Stable	Positive	Negative
Date of issue	07/08/2015	09/06/2015	19/03/2015
Rating	B2	B	B
Outlook	Under review	Credit watch Positive	Stable
Date of issue	19/11/2015	30/06/2015	26/11/2015
Rating	B3	B+	CC
Outlook	Under review	Stable	n/a
Date of issue	26/11/2015	26/11/2015	16/12/2015
Rating	Caa2	CCC-	RD*
Outlook	Negative	Negative	n/a
Date of issue	11/12/2015	14/12/2015	15/01/2016
Rating	Caa3	SD*	n/a**
Outlook	Negative	n/a	n/a**
Date of issue	13/02/2016	14/12/2015	15/01/2016
Rating	Ca	SD*	n/a**
Outlook	Negative	n/a	n/a**

^{* SD = Selective Default / RD = Restricted default
** Coverage terminated}