AA the credit rating of ANZ in New Zealand means "Very strong ability to repay principal and interest." according to Standard and Poors and Fitch.
BBB the credit rating of Heartland means "Adequate ability to repay principal and interest. More vulnerable to adverse changes." according to Standard and Poors and Fitch.
From this we can conclude that Percy does not work for Standard & Poors nor Fitch!
SNOOPY