Company: VVR
Filing Date: 2025-03-21
Form Type: 424B5
Source: 0001104659-25-026711
Chunk: 141

Company: Invesco Senior Income Trust
Filing Date: 2025-03-21
Form: 424B5
Chunk 141
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. Moody's Short-Term Prime Rating System P-1 : Ratings of Prime-1 reflect a superior ability to repay short-term obligations. P-2 : Ratings of Prime-2 reflect a strong ability to repay short-term obligations. P-3 : Ratings of Prime-3 reflect an acceptable ability to repay short-term obligations. NP (Not Prime) : Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories. Moody's MIG/VMIG US Short-Term Ratings Short-Term Obligation Ratings We use the global short-term Prime rating scale for commercial paper issued by US municipalities and nonprofits. These commercial paper programs may be backed by external letters of credit or liquidity facilities, or by an issuer’s self-liquidity. For other short-term municipal obligations, we use one of two other short-term rating scales, the Municipal Investment Grade (MIG) and Variable Municipal Investment Grade (VMIG) scales discussed below.

A-1

We use the MIG scale for US municipal cash flow notes, bond anticipation notes and certain other short-term obligations, which typically mature in three years or less. Under certain circumstances, we use the MIG scale for bond anticipation notes with maturities of up to five years. MIG 1 : This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable liquidity support, or demonstrated broad-based access to the market for refinancing. MIG 2 : This designation denotes strong credit quality. Margins of protection are ample, although not as large as in the preceding group. MIG 3 : This designation denotes acceptable credit quality. Liquidity and cash-flow protection may be narrow, and market access for refinancing is likely to be less well-established. SG : This designation denotes speculative-grade credit quality. Debt instruments in this category may lack sufficient margins of protection. VMIG Ratings For variable rate demand obligations (VRDOs), Moody’s assigns both a long-term rating and a short-term payment obligation rating. The long-term rating addresses the issuer’s ability to meet scheduled principal and interest payments. The short-term payment obligation rating addresses the ability of the issuer or the liquidity provider to meet any purchase price payment obligation resulting from optional tenders (“on demand”) and/or mandatory tenders of the VRDO. The short-term payment obligation rating uses the VMIG scale. Transitions of VMIG ratings with conditional liquidity support differ from transitions of Prime ratings reflecting the risk that external liquidity support will terminate if the issuer’s long-term rating