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					       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                NACE Description                                                 NACE Level
A           AG                        Agriculture, hunting and forestry [A]                                                                                       1
AA          AGF                           Agriculture, hunting and forestry [AA]                                                                                  2
01          01                                Agriculture, hunting and related service activities [01]                                                            3
01.1        011                                    Growing of crops; market gardening; horticulture [01.1]                                                        4
01.11       0111                                       Growing of cereals and other crops n.e.c. [01.11]                                                          5
01.12       0112                                       Growing of vegetables, horticultural specialities and nursery products [01.12]                             5
01.13       0113                                       Growing of fruit, nuts, beverage and spice crops [01.13]                                                   5
01.2        012                                    Farming of animals [01.2]                                                                                      4
01.21       0121                                       Farming of cattle, dairy farming [01.21]                                                                   5
01.22       0122                                       Farming of sheep, goats, horses, asses, mules and hinnies [01.22]                                          5
01.23       0123                                       Farming of swine [01.23]                                                                                   5
01.24       0124                                       Farming of poultry [01.24]                                                                                 5
01.25       0125                                       Other farming of animals [01.25]                                                                           5
01.3        013                                    Growing of crops combined with farming of animals (mixed farming) [01.3]                                       4
01.30       0130                                       Growing of crops combined with farming of animals (mixed farming) [01.30]                                  5
01.4        014                                    Agricultural and animal husbandry service activities, except veterinary activities; landscape gardening [01.4] 4
01.41       0141                                       Agricultural service activities; landscape gardening [01.41]                                               5
01.42       0142                                       Animal husbandry service activities, except veterinary activities [01.42]                                  5
01.5        015                                    Hunting, trapping and game propagation, including related service activities [01.5]                            4
01.50       0150                                       Hunting, trapping and game propagation, including related service activities [01.50]                       5
02          02                                Forestry, logging and related service activities [02]                                                               3
02.0        020                                    Forestry, logging and related service activities [02.0]                                                        4
02.01       0201                                       Forestry and logging [02.01]                                                                               5
02.02       0202                                       Forestry and logging related service activities [02.02]                                                    5
B           FS                        Fishing [B]                                                                                                                 1
BA          FSH                           Fishing [BA]                                                                                                            2
05          05                                Fishing, fish farming and related service activities [05]                                                           3
05.0        050                                    Fishing, fish farming and related service activities [05.0]                                                    4
05.01       0501                                       Fishing [05.01]                                                                                            5
05.02       0502                                       Fish farming [05.02]                                                                                       5
C           MQ                        Mining and quarrying [C]                                                                                                    1
CA          MQE                           Mining and quarrying of energy producing materials [CA]                                                                 2
10          10                                Mining of coal and lignite; extraction of peat [10]                                                                 3
10.1        101                                    Mining and agglomeration of hard coal [10.1]                                                                   4
10.10       1010                                       Mining and agglomeration of hard coal [10.10]                                                              5
10.2        102                                    Mining and agglomeration of lignite [10.2]                                                                     4
10.20       1020                                       Mining and agglomeration of lignite [10.20]                                                                5
10.3        103                                    Extraction and agglomeration of peat [10.3]                                                                    4
10.30       1030                                       Extraction and agglomeration of peat [10.30]                                                               5
11          11                                                                                                                                                    3
                                              Extraction of crude petroleum and natural gas; service activities incidental to oil and gas extraction, excluding surveying

     NACE Rev.1.1                                                                                                                               Page 1 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                               NACE Description                                             NACE Level
11.1        111                                  Extraction of crude petroleum and natural gas [11.1]                                                     4
11.10       1110                                     Extraction of crude petroleum and natural gas [11.10]                                                5
11.2        112                                  Service activities incidental to oil and gas extraction, excluding surveying [11.2]                      4
11.20       1120                                     Service activities incidental to oil and gas extraction, excluding surveying [11.20]                 5
12          12                               Mining of uranium and thorium ores [12]                                                                      3
12.0        120                                  Mining of uranium and thorium ores [12.0]                                                                4
12.00       1200                                     Mining of uranium and thorium ores [12.00]                                                           5
CB          MQX                          Mining and quarrying, except of energy producing materials [CB]                                                  2
13          13                               Mining of metal ores [13]                                                                                    3
13.1        131                                  Mining of iron ores [13.1]                                                                               4
13.10       1310                                     Mining of iron ores [13.10]                                                                          5
13.2        132                                  Mining of non-ferrous metal ores, except uranium and thorium ores [13.2]                                 4
13.20       1320                                     Mining of non-ferrous metal ores, except uranium and thorium ores [13.20]                            5
14          14                               Other mining and quarrying [14]                                                                              3
14.1        141                                  Quarrying of stone [14.1]                                                                                4
14.11       1411                                     Quarrying of ornamental and building stone [14.11]                                                   5
14.12       1412                                     Quarrying of limestone, gypsum and chalk [14.12]                                                     5
14.13       1413                                     Quarrying of slate [14.13]                                                                           5
14.2        142                                  Quarrying of sand and clay [14.2]                                                                        4
14.21       1421                                     Operation of gravel and sand pits [14.21]                                                            5
14.22       1422                                     Mining of clays and kaolin [14.22]                                                                   5
14.3        143                                  Mining of chemical and fertilizer minerals [14.3]                                                        4
14.30       1430                                     Mining of chemical and fertilizer minerals [14.30]                                                   5
14.4        144                                  Production of salt [14.4]                                                                                4
14.40       1440                                     Production of salt [14.40]                                                                           5
14.5        145                                  Other mining and quarrying n.e.c. [14.5]                                                                 4
14.50       1450                                     Other mining and quarrying n.e.c. [14.50]                                                            5
D           MF                        Manufacturing [D]                                                                                                   1
DA          MFF                          Manufacture of food products, beverages and tobacco [DA]                                                         2
15          15                               Manufacture of food products and beverages [15]                                                              3
15.1        151                                  Production, processing and preserving of meat and meat products [15.1]                                   4
15.11       1511                                     Production and preserving of meat [15.11]                                                            5
15.12       1512                                     Production and preserving of poultrymeat [15.12]                                                     5
15.13       1513                                     Production of meat and poultrymeat products [15.13]                                                  5
15.2        152                                  Processing and preserving of fish and fish products [15.2]                                               4
15.20       1520                                     Processing and preserving of fish and fish products [15.20]                                          5
15.3        153                                  Processing and preserving of fruit and vegetables [15.3]                                                 4
15.31       1531                                     Processing and preserving of potatoes [15.31]                                                        5
15.32       1532                                     Manufacture of fruit and vegetable juice [15.32]                                                     5
15.33       1533                                     Processing and preserving of fruit and vegetables n.e.c. [15.33]                                     5

     NACE Rev.1.1                                                                                                                           Page 2 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                            NACE Description                                           NACE Level
15.4        154                                Manufacture of vegetable and animal oils and fats [15.4]                                              4
15.41       1541                                   Manufacture of crude oils and fats [15.41]                                                        5
15.42       1542                                   Manufacture of refined oils and fats [15.42]                                                      5
15.43       1543                                   Manufacture of margarine and similar edible fats [15.43]                                          5
15.5        155                                Manufacture of dairy products [15.5]                                                                  4
15.51       1551                                   Operation of dairies and cheese making [15.51]                                                    5
15.52       1552                                   Manufacture of ice cream [15.52]                                                                  5
15.6        156                                Manufacture of grain mill products, starches and starch products [15.6]                               4
15.61       1561                                   Manufacture of grain mill products [15.61]                                                        5
15.62       1562                                   Manufacture of starches and starch products [15.62]                                               5
15.7        157                                Manufacture of prepared animal feeds [15.7]                                                           4
15.71       1571                                   Manufacture of prepared feeds for farm animals [15.71]                                            5
15.72       1572                                   Manufacture of prepared pet foods [15.72]                                                         5
15.8        158                                Manufacture of other food products [15.8]                                                             4
15.81       1581                                   Manufacture of bread; manufacture of fresh pastry goods and cakes [15.81]                         5
15.82       1582                                   Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes [15.82]        5
15.83       1583                                   Manufacture of sugar [15.83]                                                                      5
15.84       1584                                   Manufacture of cocoa; chocolate and sugar confectionery [15.84]                                   5
15.85       1585                                   Manufacture of macaroni, noodles, couscous and similar farinaceous products [15.85]               5
15.86       1586                                   Processing of tea and coffee [15.86]                                                              5
15.87       1587                                   Manufacture of condiments and seasonings [15.87]                                                  5
15.88       1588                                   Manufacture of homogenized food preparations and dietetic food [15.88]                            5
15.89       1589                                   Manufacture of other food products n.e.c. [15.89]                                                 5
15.9        159                                Manufacture of beverages [15.9]                                                                       4
15.91       1591                                   Manufacture of distilled potable alcoholic beverages [15.91]                                      5
15.92       1592                                   Production of ethyl alcohol from fermented materials [15.92]                                      5
15.93       1593                                   Manufacture of wines [15.93]                                                                      5
15.94       1594                                   Manufacture of cider and other fruit wines [15.94]                                                5
15.95       1595                                   Manufacture of other non-distilled fermented beverages [15.95]                                    5
15.96       1596                                   Manufacture of beer [15.96]                                                                       5
15.97       1597                                   Manufacture of malt [15.97]                                                                       5
15.98       1598                                   Production of mineral waters and soft drinks [15.98]                                              5
16          16                             Manufacture of tobacco products [16]                                                                      3
16.0        160                                Manufacture of tobacco products [16.0]                                                                4
16.00       1600                                   Manufacture of tobacco products [16.00]                                                           5
DB          MFX                         Manufacture of textiles and textile products [DB]                                                            2
17          17                             Manufacture of textiles [17]                                                                              3
17.1        171                                Preparation and spinning of textile fibres [17.1]                                                     4
17.11       1711                                   Preparation and spinning of cotton-type fibres [17.11]                                            5
17.12       1712                                   Preparation and spinning of woollen-type fibres [17.12]                                           5

     NACE Rev.1.1                                                                                                                   Page 3 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                            NACE Description                                                NACE Level
17.13       1713                                   Preparation and spinning of worsted-type fibres [17.13]                                                      5
17.14       1714                                   Preparation and spinning of flax-type fibres [17.14]                                                         5
17.15       1715                                                                                                                                                filamen
                                                   Throwing and preparation of silk, including from noils, and throwing and texturing of synthetic or artificial5
17.16       1716                                   Manufacture of sewing threads [17.16]                                                                        5
17.17       1717                                   Preparation and spinning of other textile fibres [17.17]                                                     5
17.2        172                                Textile weaving [17.2]                                                                                           4
17.21       1721                                   Cotton-type weaving [17.21]                                                                                  5
17.22       1722                                   Woollen-type weaving [17.22]                                                                                 5
17.23       1723                                   Worsted-type weaving [17.23]                                                                                 5
17.24       1724                                   Silk-type weaving [17.24]                                                                                    5
17.25       1725                                   Other textile weaving [17.25]                                                                                5
17.3        173                                Finishing of textiles [17.3]                                                                                     4
17.30       1730                                   Finishing of textiles [17.30]                                                                                5
17.4        174                                Manufacture of made-up textile articles, except apparel [17.4]                                                   4
17.40       1740                                   Manufacture of made-up textile articles, except apparel [17.40]                                              5
17.5        175                                Manufacture of other textiles [17.5]                                                                             4
17.51       1751                                   Manufacture of carpets and rugs [17.51]                                                                      5
17.52       1752                                   Manufacture of cordage, rope, twine and netting [17.52]                                                      5
17.53       1753                                   Manufacture of non-wovens and articles made from non-wovens, except apparel [17.53]                          5
17.54       1754                                   Manufacture of other textiles n.e.c. [17.54]                                                                 5
17.6        176                                Manufacture of knitted and crocheted fabrics [17.6]                                                              4
17.60       1760                                   Manufacture of knitted and crocheted fabrics [17.60]                                                         5
17.7        177                                Manufacture of knitted and crocheted articles [17.7]                                                             4
17.71       1771                                   Manufacture of knitted and crocheted hosiery [17.71]                                                         5
17.72       1772                                   Manufacture of knitted and crocheted pullovers, cardigans and similar articles [17.72]                       5
18          18                             Manufacture of wearing apparel; dressing and dyeing of fur [18]                                                      3
18.1        181                                Manufacture of leather clothes [18.1]                                                                            4
18.10       1810                                   Manufacture of leather clothes [18.10]                                                                       5
18.2        182                                Manufacture of other wearing apparel and accessories [18.2]                                                      4
18.21       1821                                   Manufacture of workwear [18.21]                                                                              5
18.22       1822                                   Manufacture of other outerwear [18.22]                                                                       5
18.23       1823                                   Manufacture of underwear [18.23]                                                                             5
18.24       1824                                   Manufacture of other wearing apparel and accessories n.e.c. [18.24]                                          5
18.3        183                                Dressing and dyeing of fur; manufacture of articles of fur [18.3]                                                4
18.30       1830                                   Dressing and dyeing of fur; manufacture of articles of fur [18.30]                                           5
DC          MFL                         Manufacture of leather and leather products [DC]                                                                        2
19          19                             Tanning and dressing of leather; manufacture of luggage, handbags, saddlery, harness and footwear [19]               3
19.1        191                                Tanning and dressing of leather [19.1]                                                                           4
19.10       1910                                   Tanning and dressing of leather [19.10]                                                                      5
19.2        192                                Manufacture of luggage, handbags and the like, saddlery and harness [19.2]                                       4

     NACE Rev.1.1                                                                                                                           Page 4 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                             NACE Description                                             NACE Level
19.20       1920                                   Manufacture of luggage, handbags and the like, saddlery and harness [19.20]                             5
19.3        193                                Manufacture of footwear [19.3]                                                                              4
19.30       1930                                   Manufacture of footwear [19.30]                                                                         5
DD          MFW                         Manufacture of wood and wood products [DD]                                                                         2
20          20                                                                                                                                             3
                                           Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting m
20.1        201                                Sawmilling and planing of wood; impregnation of wood [20.1]                                                 4
20.10       2010                                   Sawmilling and planing of wood; impregnation of wood [20.10]                                            5
20.2        202                                                                                                                                            4
                                               Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels an
20.20       2020                                                                                                                                           5
                                                   Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels
20.3        203                                Manufacture of builders' carpentry and joinery [20.3]                                                       4
20.30       2030                                   Manufacture of builders' carpentry and joinery [20.30]                                                  5
20.4        204                                Manufacture of wooden containers [20.4]                                                                     4
20.40       2040                                   Manufacture of wooden containers [20.40]                                                                5
20.5        205                                Manufacture of other products of wood; manufacture of articles of cork, straw and plaiting materials [20.5] 4
20.51       2051                                   Manufacture of other products of wood [20.51]                                                           5
20.52       2052                                   Manufacture of articles of cork, straw and plaiting materials [20.52]                                   5
DE          MFP                         Manufacture of pulp, paper and paper products; publishing and printing [DE]                                        2
21          21                             Manufacture of pulp, paper and paper products [21]                                                              3
21.1        211                                Manufacture of pulp, paper and paperboard [21.1]                                                            4
21.11       2111                                   Manufacture of pulp [21.11]                                                                             5
21.12       2112                                   Manufacture of paper and paperboard [21.12]                                                             5
21.2        212                                Manufacture of articles of paper and paperboard [21.2]                                                      4
21.21       2121                                   Manufacture of corrugated paper and paperboard and of containers of paper and paperboard [21.21] 5
21.22       2122                                   Manufacture of household and sanitary goods and of toilet requisites [21.22]                            5
21.23       2123                                   Manufacture of paper stationery [21.23]                                                                 5
21.24       2124                                   Manufacture of wallpaper [21.24]                                                                        5
21.25       2125                                   Manufacture of other articles of paper and paperboard n.e.c. [21.25]                                    5
22          22                             Publishing, printing and reproduction of recorded media [22]                                                    3
22.1        221                                Publishing [22.1]                                                                                           4
22.11       2211                                   Publishing of books [22.11]                                                                             5
22.12       2212                                   Publishing of newspapers [22.12]                                                                        5
22.13       2213                                   Publishing of journals and periodicals [22.13]                                                          5
22.14       2214                                   Publishing of sound recordings [22.14]                                                                  5
22.15       2215                                   Other publishing [22.15]                                                                                5
22.2        222                                Printing and service activities related to printing [22.2]                                                  4
22.21       2221                                   Printing of newspapers [22.21]                                                                          5
22.22       2222                                   Printing n.e.c. [22.22]                                                                                 5
22.23       2223                                   Bookbinding [22.23]                                                                                     5
22.24       2224                                   Pre-press activities [22.24]                                                                            5
22.25       2225                                   Ancillary activities related to printing [22.25]                                                        5

     NACE Rev.1.1                                                                                                                       Page 5 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                           NACE Description                                             NACE Level
22.3        223                                Reproduction of recorded media [22.3]                                                                     4
22.31       2231                                   Reproduction of sound recording [22.31]                                                               5
22.32       2232                                   Reproduction of video recording [22.32]                                                               5
22.33       2233                                   Reproduction of computer media [22.33]                                                                5
DF          MFE                         Manufacture of coke, refined petroleum products and nuclear fuel [DF]                                            2
23          23                             Manufacture of coke, refined petroleum products and nuclear fuel [23]                                         3
23.1        231                                Manufacture of coke oven products [23.1]                                                                  4
23.10       2310                                   Manufacture of coke oven products [23.10]                                                             5
23.2        232                                Manufacture of refined petroleum products [23.2]                                                          4
23.20       2320                                   Manufacture of refined petroleum products [23.20]                                                     5
23.3        233                                Processing of nuclear fuel [23.3]                                                                         4
23.30       2330                                   Processing of nuclear fuel [23.30]                                                                    5
DG          MFC                         Manufacture of chemicals, chemical products and man-made fibres [DG]                                             2
24          24                             Manufacture of chemicals and chemical products [24]                                                           3
24.1        241                                Manufacture of basic chemicals [24.1]                                                                     4
24.11       2411                                   Manufacture of industrial gases [24.11]                                                               5
24.12       2412                                   Manufacture of dyes and pigments [24.12]                                                              5
24.13       2413                                   Manufacture of other inorganic basic chemicals [24.13]                                                5
24.14       2414                                   Manufacture of other organic basic chemicals [24.14]                                                  5
24.15       2415                                   Manufacture of fertilizers and nitrogen compounds [24.15]                                             5
24.16       2416                                   Manufacture of plastics in primary forms [24.16]                                                      5
24.17       2417                                   Manufacture of synthetic rubber in primary forms [24.17]                                              5
24.2        242                                Manufacture of pesticides and other agro-chemical products [24.2]                                         4
24.20       2420                                   Manufacture of pesticides and other agro-chemical products [24.20]                                    5
24.3        243                                Manufacture of paints, varnishes and similar coatings, printing ink and mastics [24.3]                    4
24.30       2430                                   Manufacture of paints, varnishes and similar coatings, printing ink and mastics [24.30]               5
24.4        244                                Manufacture of pharmaceuticals, medicinal chemicals and botanical products [24.4]                         4
24.41       2441                                   Manufacture of basic pharmaceutical products [24.41]                                                  5
24.42       2442                                   Manufacture of pharmaceutical preparations [24.42]                                                    5
24.5        245                                                                                                                                          4
                                               Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations [24.5]
24.51       2451                                   Manufacture of soap and detergents, cleaning and polishing preparations [24.51]                       5
24.52       2452                                   Manufacture of perfumes and toilet preparations [24.52]                                               5
24.6        246                                Manufacture of other chemical products [24.6]                                                             4
24.61       2461                                   Manufacture of explosives [24.61]                                                                     5
24.62       2462                                   Manufacture of glues and gelatines [24.62]                                                            5
24.63       2463                                   Manufacture of essential oils [24.63]                                                                 5
24.64       2464                                   Manufacture of photographic chemical material [24.64]                                                 5
24.65       2465                                   Manufacture of prepared unrecorded media [24.65]                                                      5
24.66       2466                                   Manufacture of other chemical products n.e.c. [24.66]                                                 5
24.7        247                                Manufacture of man-made fibres [24.7]                                                                     4

     NACE Rev.1.1                                                                                                                       Page 6 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                           NACE Description                                            NACE Level
24.70       2470                                   Manufacture of man-made fibres [24.70]                                                                5
DH          MFR                         Manufacture of rubber and plastic products [DH]                                                                  2
25          25                             Manufacture of rubber and plastic products [25]                                                               3
25.1        251                                Manufacture of rubber products [25.1]                                                                     4
25.11       2511                                   Manufacture of rubber tyres and tubes [25.11]                                                         5
25.12       2512                                   Retreading and rebuilding of rubber tyres [25.12]                                                     5
25.13       2513                                   Manufacture of other rubber products [25.13]                                                          5
25.2        252                                Manufacture of plastic products [25.2]                                                                    4
25.21       2521                                   Manufacture of plastic plates, sheets, tubes and profiles [25.21]                                     5
25.22       2522                                   Manufacture of plastic packing goods [25.22]                                                          5
25.23       2523                                   Manufacture of builders' ware of plastic [25.23]                                                      5
25.24       2524                                   Manufacture of other plastic products [25.24]                                                         5
DI          MFN                         Manufacture of other non-metallic mineral products [DI]                                                          2
26          26                             Manufacture of other non-metallic mineral products [26]                                                       3
26.1        261                                Manufacture of glass and glass products [26.1]                                                            4
26.11       2611                                   Manufacture of flat glass [26.11]                                                                     5
26.12       2612                                   Shaping and processing of flat glass [26.12]                                                          5
26.13       2613                                   Manufacture of hollow glass [26.13]                                                                   5
26.14       2614                                   Manufacture of glass fibres [26.14]                                                                   5
26.15       2615                                   Manufacture and processing of other glass, including technical glassware [26.15]                      5
26.2        262                                                                                                                                          4
                                               Manufacture of non-refractory ceramic goods other than for construction purposes; manufacture of refractory ceram
26.21       2621                                   Manufacture of ceramic household and ornamental articles [26.21]                                      5
26.22       2622                                   Manufacture of ceramic sanitary fixtures [26.22]                                                      5
26.23       2623                                   Manufacture of ceramic insulators and insulating fittings [26.23]                                     5
26.24       2624                                   Manufacture of other technical ceramic products [26.24]                                               5
26.25       2625                                   Manufacture of other ceramic products [26.25]                                                         5
26.26       2626                                   Manufacture of refractory ceramic products [26.26]                                                    5
26.3        263                                Manufacture of ceramic tiles and flags [26.3]                                                             4
26.30       2630                                   Manufacture of ceramic tiles and flags [26.30]                                                        5
26.4        264                                Manufacture of bricks, tiles and construction products, in baked clay [26.4]                              4
26.40       2640                                   Manufacture of bricks, tiles and construction products, in baked clay [26.40]                         5
26.5        265                                Manufacture of cement, lime and plaster [26.5]                                                            4
26.51       2651                                   Manufacture of cement [26.51]                                                                         5
26.52       2652                                   Manufacture of lime [26.52]                                                                           5
26.53       2653                                   Manufacture of plaster [26.53]                                                                        5
26.6        266                                Manufacture of articles of concrete, plaster and cement [26.6]                                            4
26.61       2661                                   Manufacture of concrete products for construction purposes [26.61]                                    5
26.62       2662                                   Manufacture of plaster products for construction purposes [26.62]                                     5
26.63       2663                                   Manufacture of ready-mixed concrete [26.63]                                                           5
26.64       2664                                   Manufacture of mortars [26.64]                                                                        5

     NACE Rev.1.1                                                                                                                     Page 7 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                            NACE Description                                              NACE Level
26.65       2665                                   Manufacture of fibre cement [26.65]                                                                     5
26.66       2666                                   Manufacture of other articles of concrete, plaster and cement [26.66]                                   5
26.7        267                                Cutting, shaping and finishing of ornamental and building stone [26.7]                                      4
26.70       2670                                   Cutting, shaping and finishing of ornamental and building stone [26.70]                                 5
26.8        268                                Manufacture of other non-metallic mineral products [26.8]                                                   4
26.81       2681                                   Production of abrasive products [26.81]                                                                 5
26.82       2682                                   Manufacture of other non-metallic mineral products n.e.c. [26.82]                                       5
DJ          MFB                         Manufacture of basic metals and fabricated metal products [DJ]                                                     2
27          27                             Manufacture of basic metals [27]                                                                                3
27.1        271                                Manufacture of basic iron and steel and of ferro-alloys [27.1]                                              4
27.10       2710                                   Manufacture of basic iron and steel and of ferro-alloys [27.10]                                         5
27.2        272                                Manufacture of tubes [27.2]                                                                                 4
27.21       2721                                   Manufacture of cast iron tubes [27.21]                                                                  5
27.22       2722                                   Manufacture of steel tubes [27.22]                                                                      5
27.3        273                                Other first processing of iron and steel [27.3]                                                             4
27.31       2731                                   Cold drawing [27.31]                                                                                    5
27.32       2732                                   Cold rolling of narrow strip [27.32]                                                                    5
27.33       2733                                   Cold forming or folding [27.33]                                                                         5
27.34       2734                                   Wire drawing [27.34]                                                                                    5
27.4        274                                Manufacture of basic precious and non-ferrous metals [27.4]                                                 4
27.41       2741                                   Precious metals production [27.41]                                                                      5
27.42       2742                                   Aluminium production [27.42]                                                                            5
27.43       2743                                   Lead, zinc and tin production [27.43]                                                                   5
27.44       2744                                   Copper production [27.44]                                                                               5
27.45       2745                                   Other non-ferrous metal production [27.45]                                                              5
27.5        275                                Casting of metals [27.5]                                                                                    4
27.51       2751                                   Casting of iron [27.51]                                                                                 5
27.52       2752                                   Casting of steel [27.52]                                                                                5
27.53       2753                                   Casting of light metals [27.53]                                                                         5
27.54       2754                                   Casting of other non-ferrous metals [27.54]                                                             5
28          28                             Manufacture of fabricated metal products, except machinery and equipment [28]                                   3
28.1        281                                Manufacture of structural metal products [28.1]                                                             4
28.11       2811                                   Manufacture of metal structures and parts of structures [28.11]                                         5
28.12       2812                                   Manufacture of builders' carpentry and joinery of metal [28.12]                                         5
28.2        282                                                                                                                                            4
                                               Manufacture of tanks, reservoirs and containers of metal; manufacture of central heating radiators and boilers [28.2
28.21       2821                                   Manufacture of tanks, reservoirs and containers of metal [28.21]                                        5
28.22       2822                                   Manufacture of central heating radiators and boilers [28.22]                                            5
28.3        283                                Manufacture of steam generators, except central heating hot water boilers [28.3]                            4
28.30       2830                                   Manufacture of steam generators, except central heating hot water boilers [28.30]                       5
28.4        284                                Forging, pressing, stamping and roll forming of metal; powder metallurgy [28.4]                             4

     NACE Rev.1.1                                                                                                                        Page 8 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                          NACE Description                                              NACE Level
28.40       2840                                   Forging, pressing, stamping and roll forming of metal; powder metallurgy [28.40]                      5
28.5        285                                Treatment and coating of metals; general mechanical engineering [28.5]                                    4
28.51       2851                                   Treatment and coating of metals [28.51]                                                               5
28.52       2852                                   General mechanical engineering [28.52]                                                                5
28.6        286                                Manufacture of cutlery, tools and general hardware [28.6]                                                 4
28.61       2861                                   Manufacture of cutlery [28.61]                                                                        5
28.62       2862                                   Manufacture of tools [28.62]                                                                          5
28.63       2863                                   Manufacture of locks and hinges [28.63]                                                               5
28.7        287                                Manufacture of other fabricated metal products [28.7]                                                     4
28.71       2871                                   Manufacture of steel drums and similar containers [28.71]                                             5
28.72       2872                                   Manufacture of light metal packaging [28.72]                                                          5
28.73       2873                                   Manufacture of wire products [28.73]                                                                  5
28.74       2874                                   Manufacture of fasteners, screw machine products, chain and springs [28.74]                           5
28.75       2875                                   Manufacture of other fabricated metal products n.e.c. [28.75]                                         5
DK          MFM                         Manufacture of machinery and equipment n.e.c. [DK]                                                               2
29          29                             Manufacture of machinery and equipment n.e.c. [29]                                                            3
29.1        291                                                                                                                                          4
                                               Manufacture of machinery for the production and use of mechanical power, except aircraft, vehicle and cycle engine
29.11       2911                                   Manufacture of engines and turbines, except aircraft, vehicle and cycle engines [29.11]               5
29.12       2912                                   Manufacture of pumps and compressors [29.12]                                                          5
29.13       2913                                   Manufacture of taps and valves [29.13]                                                                5
29.14       2914                                   Manufacture of bearings, gears, gearing and driving elements [29.14]                                  5
29.2        292                                Manufacture of other general purpose machinery [29.2]                                                     4
29.21       2921                                   Manufacture of furnaces and furnace burners [29.21]                                                   5
29.22       2922                                   Manufacture of lifting and handling equipment [29.22]                                                 5
29.23       2923                                   Manufacture of non-domestic cooling and ventilation equipment [29.23]                                 5
29.24       2924                                   Manufacture of other general purpose machinery n.e.c. [29.24]                                         5
29.3        293                                Manufacture of agricultural and forestry machinery [29.3]                                                 4
29.31       2931                                   Manufacture of agricultural tractors [29.31]                                                          5
29.32       2932                                   Manufacture of other agricultural and forestry machinery [29.32]                                      5
29.4        294                                Manufacture of machine tools [29.4]                                                                       4
29.41       2941                                   Manufacture of portable hand held power tools [29.41]                                                 5
29.42       2942                                   Manufacture of other metalworking machine tools [29.42]                                               5
29.43       2943                                   Manufacture of other machine tools n.e.c. [29.43]                                                     5
29.5        295                                Manufacture of other special purpose machinery [29.5]                                                     4
29.51       2951                                   Manufacture of machinery for metallurgy [29.51]                                                       5
29.52       2952                                   Manufacture of machinery for mining, quarrying and construction [29.52]                               5
29.53       2953                                   Manufacture of machinery for food, beverage and tobacco processing [29.53]                            5
29.54       2954                                   Manufacture of machinery for textile, apparel and leather production [29.54]                          5
29.55       2955                                   Manufacture of machinery for paper and paperboard production [29.55]                                  5
29.56       2956                                   Manufacture of other special purpose machinery n.e.c. [29.56]                                         5

     NACE Rev.1.1                                                                                                                      Page 9 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                            NACE Description                                                NACE Level
29.6        296                                Manufacture of weapons and ammunition [29.6]                                                                 4
29.60       2960                                   Manufacture of weapons and ammunition [29.60]                                                            5
29.7        297                                Manufacture of domestic appliances n.e.c. [29.7]                                                             4
29.71       2971                                   Manufacture of electric domestic appliances [29.71]                                                      5
29.72       2972                                   Manufacture of non-electric domestic appliances [29.72]                                                  5
DL          MFQ                         Manufacture of electrical and optical equipment [DL]                                                                2
30          30                             Manufacture of office machinery and computers [30]                                                               3
30.0        300                                Manufacture of office machinery and computers [30.0]                                                         4
30.01       3001                                   Manufacture of office machinery [30.01]                                                                  5
30.02       3002                                   Manufacture of computers and other information processing equipment [30.02]                              5
31          31                             Manufacture of electrical machinery and apparatus n.e.c. [31]                                                    3
31.1        311                                Manufacture of electric motors, generators and transformers [31.1]                                           4
31.10       3110                                   Manufacture of electric motors, generators and transformers [31.10]                                      5
31.2        312                                Manufacture of electricity distribution and control apparatus [31.2]                                         4
31.20       3120                                   Manufacture of electricity distribution and control apparatus [31.20]                                    5
31.3        313                                Manufacture of insulated wire and cable [31.3]                                                               4
31.30       3130                                   Manufacture of insulated wire and cable [31.30]                                                          5
31.4        314                                Manufacture of accumulators, primary cells and primary batteries [31.4]                                      4
31.40       3140                                   Manufacture of accumulators, primary cells and primary batteries [31.40]                                 5
31.5        315                                Manufacture of lighting equipment and electric lamps [31.5]                                                  4
31.50       3150                                   Manufacture of lighting equipment and electric lamps [31.50]                                             5
31.6        316                                Manufacture of electrical equipment n.e.c. [31.6]                                                            4
31.61       3161                                   Manufacture of electrical equipment for engines and vehicles n.e.c. [31.61]                              5
31.62       3162                                   Manufacture of other electrical equipment n.e.c. [31.62]                                                 5
32          32                             Manufacture of radio, television and communication equipment and apparatus [32]                                  3
32.1        321                                Manufacture of electronic valves and tubes and other electronic components [32.1]                            4
32.10       3210                                   Manufacture of electronic valves and tubes and other electronic components [32.10]                       5
32.2        322                                Manufacture of television and radio transmitters and apparatus for line telephony and line telegraphy [32.2] 4
32.20       3220                                                                                                                                            5
                                                   Manufacture of television and radio transmitters and apparatus for line telephony and line telegraphy [32.20]
32.3        323                                                                                                                                             4
                                               Manufacture of television and radio receivers, sound or video recording or reproducing apparatus and associated go
32.30       3230                                                                                                                                            5
                                                   Manufacture of television and radio receivers, sound or video recording or reproducing apparatus and associate
33          33                             Manufacture of medical, precision and optical instruments, watches and clocks [33]                               3
33.1        331                                Manufacture of medical and surgical equipment and orthopaedic appliances [33.1]                              4
33.10       3310                                   Manufacture of medical and surgical equipment and orthopaedic appliances [33.10]                         5
33.2        332                                                                                                                                             4
                                               Manufacture of instruments and appliances for measuring, checking, testing, navigating and other purposes, except
33.20       3320                                                                                                                                            5
                                                   Manufacture of instruments and appliances for measuring, checking, testing, navigating and other purposes, ex
33.3        333                                Manufacture of industrial process control equipment [33.3]                                                   4
33.30       3330                                   Manufacture of industrial process control equipment [33.30]                                              5
33.4        334                                Manufacture of optical instruments and photographic equipment [33.4]                                         4
33.40       3340                                   Manufacture of optical instruments and photographic equipment [33.40]                                    5

     NACE Rev.1.1                                                                                                                     Page 10 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                           NACE Description                                               NACE Level
33.5        335                                Manufacture of watches and clocks [33.5]                                                                    4
33.50       3350                                   Manufacture of watches and clocks [33.50]                                                               5
DM          MFT                         Manufacture of transport equipment [DM]                                                                            2
34          34                             Manufacture of motor vehicles, trailers and semi-trailers [34]                                                  3
34.1        341                                Manufacture of motor vehicles [34.1]                                                                        4
34.10       3410                                   Manufacture of motor vehicles [34.10]                                                                   5
34.2        342                                Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers [34.2]      4
34.20       3420                                   Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers [34.20] 5
34.3        343                                Manufacture of parts and accessories for motor vehicles and their engines [34.3]                            4
34.30       3430                                   Manufacture of parts and accessories for motor vehicles and their engines [34.30]                       5
35          35                             Manufacture of other transport equipment [35]                                                                   3
35.1        351                                Building and repairing of ships and boats [35.1]                                                            4
35.11       3511                                   Building and repairing of ships [35.11]                                                                 5
35.12       3512                                   Building and repairing of pleasure and sporting boats [35.12]                                           5
35.2        352                                Manufacture of railway and tramway locomotives and rolling stock [35.2]                                     4
35.20       3520                                   Manufacture of railway and tramway locomotives and rolling stock [35.20]                                5
35.3        353                                Manufacture of aircraft and spacecraft [35.3]                                                               4
35.30       3530                                   Manufacture of aircraft and spacecraft [35.30]                                                          5
35.4        354                                Manufacture of motorcycles and bicycles [35.4]                                                              4
35.41       3541                                   Manufacture of motorcycles [35.41]                                                                      5
35.42       3542                                   Manufacture of bicycles [35.42]                                                                         5
35.43       3543                                   Manufacture of invalid carriages [35.43]                                                                5
35.5        355                                Manufacture of other transport equipment n.e.c. [35.5]                                                      4
35.50       3550                                   Manufacture of other transport equipment n.e.c. [35.50]                                                 5
DN          MFO                         Manufacturing n.e.c. [DN]                                                                                          2
36          36                             Manufacture of furniture; manufacturing n.e.c. [36]                                                             3
36.1        361                                Manufacture of furniture [36.1]                                                                             4
36.11       3611                                   Manufacture of chairs and seats [36.11]                                                                 5
36.12       3612                                   Manufacture of other office and shop furniture [36.12]                                                  5
36.13       3613                                   Manufacture of other kitchen furniture [36.13]                                                          5
36.14       3614                                   Manufacture of other furniture [36.14]                                                                  5
36.15       3615                                   Manufacture of mattresses [36.15]                                                                       5
36.2        362                                Manufacture of jewellery and related articles [36.2]                                                        4
36.21       3621                                   Striking of coins [36.21]                                                                               5
36.22       3622                                   Manufacture of jewellery and related articles n.e.c. [36.22]                                            5
36.3        363                                Manufacture of musical instruments [36.3]                                                                   4
36.30       3630                                   Manufacture of musical instruments [36.30]                                                              5
36.4        364                                Manufacture of sports goods [36.4]                                                                          4
36.40       3640                                   Manufacture of sports goods [36.40]                                                                     5
36.5        365                                Manufacture of games and toys [36.5]                                                                        4

     NACE Rev.1.1                                                                                                                      Page 11 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                   NACE Description                                  NACE Level
36.50       3650                                        Manufacture of games and toys [36.50]                                                      5
36.6        366                                     Miscellaneous manufacturing n.e.c. [36.6]                                                      4
36.61       3661                                        Manufacture of imitation jewellery [36.61]                                                 5
36.62       3662                                        Manufacture of brooms and brushes [36.62]                                                  5
36.63       3663                                        Other manufacturing n.e.c. [36.63]                                                         5
37          37                                 Recycling [37]                                                                                      3
37.1        371                                     Recycling of metal waste and scrap [37.1]                                                      4
37.10       3710                                        Recycling of metal waste and scrap [37.10]                                                 5
37.2        372                                     Recycling of non-metal waste and scrap [37.2]                                                  4
37.20       3720                                        Recycling of non-metal waste and scrap [37.20]                                             5
E           EG                        Electricity, gas and water supply [E]                                                                        1
EA          EGW                           Electricity, gas and water supply [EA]                                                                   2
40          40                                 Electricity, gas, steam and hot water supply [40]                                                   3
40.1        401                                     Production and distribution of electricity [40.1]                                              4
40.11       4011                                        Production of electricity [40.11]                                                          5
40.12       4012                                        Transmission of electricity [40.12]                                                        5
40.13       4013                                        Distribution and trade of electricity [40.13]                                              5
40.2        402                                     Manufacture of gas; distribution of gaseous fuels through mains [40.2]                         4
40.21       4021                                        Manufacture of gas [40.21]                                                                 5
40.22       4022                                        Distribution and trade of gaseous fuels through mains [40.22]                              5
40.3        403                                     Steam and hot water supply [40.3]                                                              4
40.30       4030                                        Steam and hot water supply [40.30]                                                         5
41          41                                 Collection, purification and distribution of water [41]                                             3
41.0        410                                     Collection, purification and distribution of water [41.0]                                      4
41.00       4100                                        Collection, purification and distribution of water [41.00]                                 5
F           CN                        Construction [F]                                                                                             1
FA          CNS                           Construction [FA]                                                                                        2
45          45                                 Construction [45]                                                                                   3
45.1        451                                     Site preparation [45.1]                                                                        4
45.11       4511                                        Demolition and wrecking of buildings; earth moving [45.11]                                 5
45.12       4512                                        Test drilling and boring [45.12]                                                           5
45.2        452                                     Building of complete constructions or parts thereof; civil engineering [45.2]                  4
45.21       4521                                        General construction of buildings and civil engineering works [45.21]                      5
45.22       4522                                        Erection of roof covering and frames [45.22]                                               5
45.23       4523                                        Construction of motorways, roads, airfields and sport facilities [45.23]                   5
45.24       4524                                        Construction of water projects [45.24]                                                     5
45.25       4525                                        Other construction work involving special trades [45.25]                                   5
45.3        453                                     Building installation [45.3]                                                                   4
45.31       4531                                        Installation of electrical wiring and fittings [45.31]                                     5
45.32       4532                                        Insulation work activities [45.32]                                                         5

     NACE Rev.1.1                                                                                                                   Page 12 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                              NACE Description                                                  NACE Level
45.33       4533                                     Plumbing [45.33]                                                                                             5
45.34       4534                                     Other building installation [45.34]                                                                          5
45.4        454                                  Building completion [45.4]                                                                                       4
45.41       4541                                     Plastering [45.41]                                                                                           5
45.42       4542                                     Joinery installation [45.42]                                                                                 5
45.43       4543                                     Floor and wall covering [45.43]                                                                              5
45.44       4544                                     Painting and glazing [45.44]                                                                                 5
45.45       4545                                     Other building completion [45.45]                                                                            5
45.5        455                                  Renting of construction or demolition equipment with operator [45.5]                                             4
45.50       4550                                     Renting of construction or demolition equipment with operator [45.50]                                        5
G           WR                        Wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods [G]                      1
GA          WRT                         Wholesale and retail trade; repair of motor vehicles, motorcycles and personal and household goods [GA]                   2
50          50                              Sale, maintenance and repair of motor vehicles and motorcycles; retail sale of automotive fuel [50]                   3
50.1        501                                  Sale of motor vehicles [50.1]                                                                                    4
50.10       5010                                     Sale of motor vehicles [50.10]                                                                               5
50.2        502                                  Maintenance and repair of motor vehicles [50.2]                                                                  4
50.20       5020                                     Maintenance and repair of motor vehicles [50.20]                                                             5
50.3        503                                  Sale of motor vehicle parts and accessories [50.3]                                                               4
50.30       5030                                     Sale of motor vehicle parts and accessories [50.30]                                                          5
50.4        504                                  Sale, maintenance and repair of motorcycles and related parts and accessories [50.4]                             4
50.40       5040                                     Sale, maintenance and repair of motorcycles and related parts and accessories [50.40]                        5
50.5        505                                  Retail sale of automotive fuel [50.5]                                                                            4
50.50       5050                                     Retail sale of automotive fuel [50.50]                                                                       5
51          51                              Wholesale trade and commission trade, except of motor vehicles and motorcycles [51]                                   3
51.1        511                                  Wholesale on a fee or contract basis [51.1]                                                                      4
51.11       5111                                                                                                                                                  5
                                                     Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goo
51.12       5112                                     Agents involved in the sale of fuels, ores, metals and industrial chemicals [51.12]                          5
51.13       5113                                     Agents involved in the sale of timber and building materials [51.13]                                         5
51.14       5114                                     Agents involved in the sale of machinery, industrial equipment, ships and aircraft [51.14]                   5
51.15       5115                                     Agents involved in the sale of furniture, household goods, hardware and ironmongery [51.15]                  5
51.16       5116                                     Agents involved in the sale of textiles, clothing, footwear and leather goods [51.16]                        5
51.17       5117                                     Agents involved in the sale of food, beverages and tobacco [51.17]                                           5
51.18       5118                                     Agents specializing in the sale of particular products or ranges of products n.e.c. [51.18]                  5
51.19       5119                                     Agents involved in the sale of a variety of goods [51.19]                                                    5
51.2        512                                  Wholesale of agricultural raw materials and live animals [51.2]                                                  4
51.21       5121                                     Wholesale of grain, seeds and animal feeds [51.21]                                                           5
51.22       5122                                     Wholesale of flowers and plants [51.22]                                                                      5
51.23       5123                                     Wholesale of live animals [51.23]                                                                            5
51.24       5124                                     Wholesale of hides, skins and leather [51.24]                                                                5
51.25       5125                                     Wholesale of unmanufactured tobacco [51.25]                                                                  5

     NACE Rev.1.1                                                                                                                             Page 13 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                          NACE Description                                               NACE Level
51.3        513                             Wholesale of food, beverages and tobacco [51.3]                                                            4
51.31       5131                                  Wholesale of fruit and vegetables [51.31]                                                            5
51.32       5132                                  Wholesale of meat and meat products [51.32]                                                          5
51.33       5133                                  Wholesale of dairy produce, eggs and edible oils and fats [51.33]                                    5
51.34       5134                                  Wholesale of alcoholic and other beverages [51.34]                                                   5
51.35       5135                                  Wholesale of tobacco products [51.35]                                                                5
51.36       5136                                  Wholesale of sugar and chocolate and sugar confectionery [51.36]                                     5
51.37       5137                                  Wholesale of coffee, tea, cocoa and spices [51.37]                                                   5
51.38       5138                                  Wholesale of other food, including fish, crustaceans and molluscs [51.38]                            5
51.39       5139                                  Non-specialized wholesale of food, beverages and tobacco [51.39]                                     5
51.4        514                             Wholesale of household goods [51.4]                                                                        4
51.41       5141                                  Wholesale of textiles [51.41]                                                                        5
51.42       5142                                  Wholesale of clothing and footwear [51.42]                                                           5
51.43       5143                                  Wholesale of electrical household appliances and radio and television goods [51.43]                  5
51.44       5144                                  Wholesale of china and glassware, wallpaper and cleaning materials [51.44]                           5
51.45       5145                                  Wholesale of perfume and cosmetics [51.45]                                                           5
51.46       5146                                  Wholesale of pharmaceutical goods [51.46]                                                            5
51.47       5147                                  Wholesale of other household goods [51.47]                                                           5
51.5        515                             Wholesale of non-agricultural intermediate products, waste and scrap [51.5]                                4
51.51       5151                                  Wholesale of solid, liquid and gaseous fuels and related products [51.51]                            5
51.52       5152                                  Wholesale of metals and metal ores [51.52]                                                           5
51.53       5153                                  Wholesale of wood, construction materials and sanitary equipment [51.53]                             5
51.54       5154                                  Wholesale of hardware, plumbing and heating equipment and supplies [51.54]                           5
51.55       5155                                  Wholesale of chemical products [51.55]                                                               5
51.56       5156                                  Wholesale of other intermediate products [51.56]                                                     5
51.57       5157                                  Wholesale of waste and scrap [51.57]                                                                 5
51.8        518                             Wholesale of machinery, equipment and supplies [51.8]                                                      4
51.81       5181                                  Wholesale of machine tools [51.81]                                                                   5
51.82       5182                                  Wholesale of mining, construction and civil engineering machinery [51.82]                            5
51.83       5183                                  Wholesale of machinery for the textile industry and of sewing and knitting machines [51.83]          5
51.84       5184                                  Wholesale of computers, computer peripheral equipment and software [51.84]                           5
51.85       5185                                  Wholesale of other office machinery and equipment [51.85]                                            5
51.86       5186                                  Wholesale of other electronic parts and equipment [51.86]                                            5
51.87       5187                                  Wholesale of other machinery for use in industry, trade and navigation [51.87]                       5
51.88       5188                                  Wholesale of agricultural machinery and accessories and implements, including tractors [51.88]       5
51.9        519                             Other wholesale [51.9]                                                                                     4
51.90       5190                                  Other wholesale [51.90]                                                                              5
52          52                           Retail trade, except of motor vehicles and motorcycles; repair of personal and household goods [52]           3
52.1        521                             Retail sale in non-specialized stores [52.1]                                                               4
52.11       5211                                  Retail sale in non-specialized stores with food, beverages or tobacco predominating [52.11]          5

     NACE Rev.1.1                                                                                                                  Page 14 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                NACE Description                                               NACE Level
52.12       5212                                      Other retail sale in non-specialized stores [52.12]                                                    5
52.2        522                                   Retail sale of food, beverages and tobacco in specialized stores [52.2]                                    4
52.21       5221                                      Retail sale of fruit and vegetables [52.21]                                                            5
52.22       5222                                      Retail sale of meat and meat products [52.22]                                                          5
52.23       5223                                      Retail sale of fish, crustaceans and molluscs [52.23]                                                  5
52.24       5224                                      Retail sale of bread, cakes, flour confectionery and sugar confectionery [52.24]                       5
52.25       5225                                      Retail sale of alcoholic and other beverages [52.25]                                                   5
52.26       5226                                      Retail sale of tobacco products [52.26]                                                                5
52.27       5227                                      Other retail sale of food, beverages and tobacco in specialized stores [52.27]                         5
52.3        523                                   Retail sale of pharmaceutical and medical goods, cosmetic and toilet articles [52.3]                       4
52.31       5231                                      Dispensing chemists [52.31]                                                                            5
52.32       5232                                      Retail sale of medical and orthopaedic goods [52.32]                                                   5
52.33       5233                                      Retail sale of cosmetic and toilet articles [52.33]                                                    5
52.4        524                                   Other retail sale of new goods in specialized stores [52.4]                                                4
52.41       5241                                      Retail sale of textiles [52.41]                                                                        5
52.42       5242                                      Retail sale of clothing [52.42]                                                                        5
52.43       5243                                      Retail sale of footwear and leather goods [52.43]                                                      5
52.44       5244                                      Retail sale of furniture, lighting equipment and household articles n.e.c. [52.44]                     5
52.45       5245                                      Retail sale of electrical household appliances and radio and television goods [52.45]                  5
52.46       5246                                      Retail sale of hardware, paints and glass [52.46]                                                      5
52.47       5247                                      Retail sale of books, newspapers and stationery [52.47]                                                5
52.48       5248                                      Other retail sale in specialized stores [52.48]                                                        5
52.5        525                                   Retail sale of second-hand goods in stores [52.5]                                                          4
52.50       5250                                      Retail sale of second-hand goods in stores [52.50]                                                     5
52.6        526                                   Retail sale not in stores [52.6]                                                                           4
52.61       5261                                      Retail sale via mail order houses [52.61]                                                              5
52.62       5262                                      Retail sale via stalls and markets [52.62]                                                             5
52.63       5263                                      Other non-store retail sale [52.63]                                                                    5
52.7        527                                   Repair of personal and household goods [52.7]                                                              4
52.71       5271                                      Repair of boots, shoes and other articles of leather [52.71]                                           5
52.72       5272                                      Repair of electrical household goods [52.72]                                                           5
52.73       5273                                      Repair of watches, clocks and jewellery [52.73]                                                        5
52.74       5274                                      Repair n.e.c. [52.74]                                                                                  5
H           HT                        Hotels and restaurants [H]                                                                                             1
HA          HTR                          Hotels and restaurants [HA]                                                                                         2
55          55                                Hotels and restaurants [55]                                                                                    3
55.1        551                                   Hotels [55.1]                                                                                              4
55.10       5510                                      Hotels [55.10]                                                                                         5
55.2        552                                   Camping sites and other provision of short-stay accommodation [55.2]                                       4
55.21       5521                                      Youth hostels and mountain refuges [55.21]                                                             5

     NACE Rev.1.1                                                                                                                             Page 15 of 24
        Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

 NACE Code    Moody's Economy.com Code                                              NACE Description                                     NACE Level
55.22        5522                                       Camping sites, including caravan sites [55.22]                                            5
55.23        5523                                       Other provision of lodgings n.e.c. [55.23]                                                5
55.3         553                                    Restaurants [55.3]                                                                            4
55.30        5530                                       Restaurants [55.30]                                                                       5
55.4         554                                    Bars [55.4]                                                                                   4
55.40        5540                                       Bars [55.40]                                                                              5
55.5         555                                    Canteens and catering [55.5]                                                                  4
55.51        5551                                       Canteens [55.51]                                                                          5
55.52        5552                                       Catering [55.52]                                                                          5
I            TS                        Transport, storage and communication [I]                                                                   1
IA           TSC                           Transport, storage and communication [IA]                                                              2
60           60                                Land transport; transport via pipelines [60]                                                       3
60.1         601                                    Transport via railways [60.1]                                                                 4
60.10        6010                                       Transport via railways [60.10]                                                            5
60.2         602                                    Other land transport [60.2]                                                                   4
60.21        6021                                       Other scheduled passenger land transport [60.21]                                          5
60.22        6022                                       Taxi operation [60.22]                                                                    5
60.23        6023                                       Other land passenger transport [60.23]                                                    5
60.24        6024                                       Freight transport by road [60.24]                                                         5
60.3         603                                    Transport via pipelines [60.3]                                                                4
60.30        6030                                       Transport via pipelines [60.30]                                                           5
61           61                                Water transport [61]                                                                               3
61.1         611                                    Sea and coastal water transport [61.1]                                                        4
61.10        6110                                       Sea and coastal water transport [61.10]                                                   5
61.2         612                                    Inland water transport [61.2]                                                                 4
61.20        6120                                       Inland water transport [61.20]                                                            5
62           62                                Air transport [62]                                                                                 3
62.1         621                                    Scheduled air transport [62.1]                                                                4
62.10        6210                                       Scheduled air transport [62.10]                                                           5
62.2         622                                    Non-scheduled air transport [62.2]                                                            4
62.20        6220                                       Non-scheduled air transport [62.20]                                                       5
62.3         623                                    Space transport [62.3]                                                                        4
62.30        6230                                       Space transport [62.30]                                                                   5
63           63                                Supporting and auxiliary transport activities; activities of travel agencies [63]                  3
63.1         631                                    Cargo handling and storage [63.1]                                                             4
63.11        6311                                       Cargo handling [63.11]                                                                    5
63.12        6312                                       Storage and warehousing [63.12]                                                           5
63.2         632                                    Other supporting transport activities [63.2]                                                  4
63.21        6321                                       Other supporting land transport activities [63.21]                                        5
63.22        6322                                       Other supporting water transport activities [63.22]                                       5

      NACE Rev.1.1                                                                                                                 Page 16 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                  NACE Description                                                  NACE Level
63.23       6323                                        Other supporting air transport activities [63.23]                                                         5
63.3        633                                    Activities of travel agencies and tour operators; tourist assistance activities n.e.c. [63.3]                  4
63.30       6330                                        Activities of travel agencies and tour operators; tourist assistance activities n.e.c. [63.30]            5
63.4        634                                    Activities of other transport agencies [63.4]                                                                  4
63.40       6340                                        Activities of other transport agencies [63.40]                                                            5
64          64                                Post and telecommunications [64]                                                                                    3
64.1        641                                    Post and courier activities [64.1]                                                                             4
64.11       6411                                        National post activities [64.11]                                                                          5
64.12       6412                                        Courier activities other than national post activities [64.12]                                            5
64.2        642                                    Telecommunications [64.2]                                                                                      4
64.20       6420                                        Telecommunications [64.20]                                                                                5
J           FI                        Financial intermediation [J]                                                                                                1
JA          FIT                           Financial intermediation [JA]                                                                                           2
65          65                                Financial intermediation, except insurance and pension funding [65]                                                 3
65.1        651                                    Monetary intermediation [65.1]                                                                                 4
65.11       6511                                        Central banking [65.11]                                                                                   5
65.12       6512                                        Other monetary intermediation [65.12]                                                                     5
65.2        652                                    Other financial intermediation [65.2]                                                                          4
65.21       6521                                        Financial leasing [65.21]                                                                                 5
65.22       6522                                        Other credit granting [65.22]                                                                             5
65.23       6523                                        Other financial intermediation n.e.c. [65.23]                                                             5
66          66                                Insurance and pension funding, except compulsory social security [66]                                               3
66.0        660                                    Insurance and pension funding, except compulsory social security [66.0]                                        4
66.01       6601                                        Life insurance [66.01]                                                                                    5
66.02       6602                                        Pension funding [66.02]                                                                                   5
66.03       6603                                        Non-life insurance [66.03]                                                                                5
67          67                                Activities auxiliary to financial intermediation [67]                                                               3
67.1        671                                    Activities auxiliary to financial intermediation, except insurance and pension funding [67.1]                  4
67.11       6711                                        Administration of financial markets [67.11]                                                               5
67.12       6712                                        Security broking and fund management [67.12]                                                              5
67.13       6713                                        Activities auxiliary to financial intermediation n.e.c. [67.13]                                           5
67.2        672                                    Activities auxiliary to insurance and pension funding [67.2]                                                   4
67.20       6720                                        Activities auxiliary to insurance and pension funding [67.20]                                             5
K           RE                        Real estate, renting and business activities [K]                                                                            1
KA          REB                           Real estate, renting and business activities [KA]                                                                       2
70          70                                Real estate activities [70]                                                                                         3
70.1        701                                    Real estate activities with own property [70.1]                                                                4
70.11       7011                                        Development and selling of real estate [70.11]                                                            5
70.12       7012                                        Buying and selling of own real estate [70.12]                                                             5
70.2        702                                    Letting of own property [70.2]                                                                                 4

     NACE Rev.1.1                                                                                                                                 Page 17 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                         NACE Description                                             NACE Level
70.20       7020                                 Letting of own property [70.20]                                                                        5
70.3        703                             Real estate activities on a fee or contract basis [70.3]                                                    4
70.31       7031                                 Real estate agencies [70.31]                                                                           5
70.32       7032                                 Management of real estate on a fee or contract basis [70.32]                                           5
71          71                           Renting of machinery and equipment without operator and of personal and household goods [71]                   3
71.1        711                             Renting of automobiles [71.1]                                                                               4
71.10       7110                                 Renting of automobiles [71.10]                                                                         5
71.2        712                             Renting of other transport equipment [71.2]                                                                 4
71.21       7121                                 Renting of other land transport equipment [71.21]                                                      5
71.22       7122                                 Renting of water transport equipment [71.22]                                                           5
71.23       7123                                 Renting of air transport equipment [71.23]                                                             5
71.3        713                             Renting of other machinery and equipment [71.3]                                                             4
71.31       7131                                 Renting of agricultural machinery and equipment [71.31]                                                5
71.32       7132                                 Renting of construction and civil engineering machinery and equipment [71.32]                          5
71.33       7133                                 Renting of office machinery and equipment, including computers [71.33]                                 5
71.34       7134                                 Renting of other machinery and equipment n.e.c. [71.34]                                                5
71.4        714                             Renting of personal and household goods n.e.c. [71.4]                                                       4
71.40       7140                                 Renting of personal and household goods n.e.c. [71.40]                                                 5
72          72                           Computer and related activities [72]                                                                           3
72.1        721                             Hardware consultancy [72.1]                                                                                 4
72.10       7210                                 Hardware consultancy [72.10]                                                                           5
72.2        722                             Software consultancy and supply [72.2]                                                                      4
72.21       7221                                 Publishing of software [72.21]                                                                         5
72.22       7222                                 Other software consultancy and supply [72.22]                                                          5
72.3        723                             Data processing [72.3]                                                                                      4
72.30       7230                                 Data processing [72.30]                                                                                5
72.4        724                             Database activities [72.4]                                                                                  4
72.40       7240                                 Database activities [72.40]                                                                            5
72.5        725                             Maintenance and repair of office, accounting and computing machinery [72.5]                                 4
72.50       7250                                 Maintenance and repair of office, accounting and computing machinery [72.50]                           5
72.6        726                             Other computer related activities [72.6]                                                                    4
72.60       7260                                 Other computer related activities [72.60]                                                              5
73          73                           Research and development [73]                                                                                  3
73.1        731                             Research and experimental development on natural sciences and engineering [73.1]                            4
73.10       7310                                 Research and experimental development on natural sciences and engineering [73.10]                      5
73.2        732                             Research and experimental development on social sciences and humanities [73.2]                              4
73.20       7320                                 Research and experimental development on social sciences and humanities [73.20]                        5
74          74                           Other business activities [74]                                                                                 3
74.1        741                             Legal, accounting, book-keeping and auditing activities; tax consultancy; market research and public opinion4polling
74.11       7411                                 Legal activities [74.11]                                                                               5

     NACE Rev.1.1                                                                                                                    Page 18 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                               NACE Description                                                  NACE Level
74.12       7412                                      Accounting, book-keeping and auditing activities; tax consultancy [74.12]                                  5
74.13       7413                                      Market research and public opinion polling [74.13]                                                         5
74.14       7414                                      Business and management consultancy activities [74.14]                                                     5
74.15       7415                                      Management activities of holding companies [74.15]                                                         5
74.2        742                                  Architectural and engineering activities and related technical consultancy [74.2]                               4
74.20       7420                                      Architectural and engineering activities and related technical consultancy [74.20]                         5
74.3        743                                  Technical testing and analysis [74.3]                                                                           4
74.30       7430                                      Technical testing and analysis [74.30]                                                                     5
74.4        744                                  Advertising [74.4]                                                                                              4
74.40       7440                                      Advertising [74.40]                                                                                        5
74.5        745                                  Labour recruitment and provision of personnel [74.5]                                                            4
74.50       7450                                      Labour recruitment and provision of personnel [74.50]                                                      5
74.6        746                                  Investigation and security activities [74.6]                                                                    4
74.60       7460                                      Investigation and security activities [74.60]                                                              5
74.7        747                                  Industrial cleaning [74.7]                                                                                      4
74.70       7470                                      Industrial cleaning [74.70]                                                                                5
74.8        748                                  Miscellaneous business activities n.e.c. [74.8]                                                                 4
74.81       7481                                      Photographic activities [74.81]                                                                            5
74.82       7482                                      Packaging activities [74.82]                                                                               5
74.85       7485                                      Secretarial and translation activities [74.85]                                                             5
74.86       7486                                      Call centre activities [74.86]                                                                             5
74.87       7487                                      Other business activities n.e.c. [74.87]                                                                   5
L           PA                        Public administration and defence; compulsory social security [L]                                                          1
LA          PAD                          Public administration and defence; compulsory social security [LA]                                                      2
75          75                                Public administration and defence; compulsory social security [75]                                                 3
75.1        751                                  Administration of the State and the economic and social policy of the community [75.1]                          4
75.11       7511                                      General (overall) public service activities [75.11]                                                        5
75.12       7512                                                                                                                                                 5
                                                      Regulation of the activities of agencies that provide health care, education, cultural services and other social ser
75.13       7513                                      Regulation of and contribution to more efficient operation of business [75.13]                             5
75.14       7514                                      Supporting service activities for the government as a whole [75.14]                                        5
75.2        752                                  Provision of services to the community as a whole [75.2]                                                        4
75.21       7521                                      Foreign affairs [75.21]                                                                                    5
75.22       7522                                      Defence activities [75.22]                                                                                 5
75.23       7523                                      Justice and judicial activities [75.23]                                                                    5
75.24       7524                                      Public security, law and order activities [75.24]                                                          5
75.25       7525                                      Fire service activities [75.25]                                                                            5
75.3        753                                  Compulsory social security activities [75.3]                                                                    4
75.30       7530                                      Compulsory social security activities [75.30]                                                              5
M           ED                        Education [M]                                                                                                              1
MA          EDU                          Education [MA]                                                                                                          2

     NACE Rev.1.1                                                                                                                              Page 19 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                 NACE Description                             NACE Level
80          80                                Education [80]                                                                                3
80.1        801                                   Primary education [80.1]                                                                  4
80.10       8010                                       Primary education [80.10]                                                            5
80.2        802                                   Secondary education [80.2]                                                                4
80.21       8021                                       General secondary education [80.21]                                                  5
80.22       8022                                       Technical and vocational secondary education [80.22]                                 5
80.3        803                                   Higher education [80.3]                                                                   4
80.30       8030                                       Higher education [80.30]                                                             5
80.4        804                                   Adult and other education [80.4]                                                          4
80.41       8041                                       Driving school activities [80.41]                                                    5
80.42       8042                                       Adult and other education n.e.c. [80.42]                                             5
N           HS                        Health and social work [N]                                                                            1
NA          HSW                          Health and social work [NA]                                                                        2
85          85                                Health and social work [85]                                                                   3
85.1        851                                   Human health activities [85.1]                                                            4
85.11       8511                                       Hospital activities [85.11]                                                          5
85.12       8512                                       Medical practice activities [85.12]                                                  5
85.13       8513                                       Dental practice activities [85.13]                                                   5
85.14       8514                                       Other human health activities [85.14]                                                5
85.2        852                                   Veterinary activities [85.2]                                                              4
85.20       8520                                       Veterinary activities [85.20]                                                        5
85.3        853                                   Social work activities [85.3]                                                             4
85.31       8531                                       Social work activities with accommodation [85.31]                                    5
85.32       8532                                       Social work activities without accommodation [85.32]                                 5
O           OC                        Other community, social and personal service activities [O]                                           1
OA          OCS                          Other community, social and personal service activities [OA]                                       2
90          90                                Sewage and refuse disposal, sanitation and similar activities [90]                            3
90.0        900                                   Sewage and refuse disposal, sanitation and similar activities [90.0]                      4
90.01       9001                                       Collection and treatment of sewage [90.01]                                           5
90.02       9002                                       Collection and treatment of other waste [90.02]                                      5
90.03       9003                                       Sanitation, remediation and similar activities [90.03]                               5
91          91                                Activities of membership organizations n.e.c. [91]                                            3
91.1        911                                   Activities of business, employers' and professional organizations [91.1]                  4
91.11       9111                                       Activities of business and employers' organizations [91.11]                          5
91.12       9112                                       Activities of professional organizations [91.12]                                     5
91.2        912                                   Activities of trade unions [91.2]                                                         4
91.20       9120                                       Activities of trade unions [91.20]                                                   5
91.3        913                                   Activities of other membership organizations [91.3]                                       4
91.31       9131                                       Activities of religious organizations [91.31]                                        5
91.32       9132                                       Activities of political organizations [91.32]                                        5

     NACE Rev.1.1                                                                                                            Page 20 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                  NACE Description                                           NACE Level
91.33       9133                                        Activities of other membership organizations n.e.c. [91.33]                                        5
92          92                                 Recreational, cultural and sporting activities [92]                                                         3
92.1        921                                     Motion picture and video activities [92.1]                                                             4
92.11       9211                                        Motion picture and video production [92.11]                                                        5
92.12       9212                                        Motion picture and video distribution [92.12]                                                      5
92.13       9213                                        Motion picture projection [92.13]                                                                  5
92.2        922                                     Radio and television activities [92.2]                                                                 4
92.20       9220                                        Radio and television activities [92.20]                                                            5
92.3        923                                     Other entertainment activities [92.3]                                                                  4
92.31       9231                                        Artistic and literary creation and interpretation [92.31]                                          5
92.32       9232                                        Operation of arts facilities [92.32]                                                               5
92.33       9233                                        Fair and amusement park activities [92.33]                                                         5
92.34       9234                                        Other entertainment activities n.e.c. [92.34]                                                      5
92.4        924                                     News agency activities [92.4]                                                                          4
92.40       9240                                        News agency activities [92.40]                                                                     5
92.5        925                                     Library, archives, museums and other cultural activities [92.5]                                        4
92.51       9251                                        Library and archives activities [92.51]                                                            5
92.52       9252                                        Museums activities and preservation of historical sites and buildings [92.52]                      5
92.53       9253                                        Botanical and zoological gardens and nature reserves activities [92.53]                            5
92.6        926                                     Sporting activities [92.6]                                                                             4
92.61       9261                                        Operation of sports arenas and stadiums [92.61]                                                    5
92.62       9262                                        Other sporting activities [92.62]                                                                  5
92.7        927                                     Other recreational activities [92.7]                                                                   4
92.71       9271                                        Gambling and betting activities [92.71]                                                            5
92.72       9272                                        Other recreational activities n.e.c. [92.72]                                                       5
93          93                                 Other service activities [93]                                                                               3
93.0        930                                     Other service activities [93.0]                                                                        4
93.01       9301                                        Washing and dry-cleaning of textile and fur products [93.01]                                       5
93.02       9302                                        Hairdressing and other beauty treatment [93.02]                                                    5
93.03       9303                                        Funeral and related activities [93.03]                                                             5
93.04       9304                                        Physical well-being activities [93.04]                                                             5
93.05       9305                                        Other service activities n.e.c. [93.05]                                                            5
P           PH                        Activities of households [P]                                                                                         1
PA          PHO                           Activities of households [PA]                                                                                    2
95          95                                 Activities of households as employers of domestic staff [95]                                                3
95.0        950                                     Activities of households as employers of domestic staff [95.0]                                         4
95.00       9500                                        Activities of households as employers of domestic staff [95.00]                                    5
96          96                                 Undifferentiated goods producing activities of private households for own use [96]                          3
96.0        960                                     Undifferentiated goods producing activities of private households for own use [96.0]                   4
96.00       9600                                        Undifferentiated goods producing activities of private households for own use [96.00]              5

     NACE Rev.1.1                                                                                                                           Page 21 of 24
       Statistical Classification of Economic Activities in the European Community, Rev.1.1 - NACE Rev.1.1 Classification

NACE Code    Moody's Economy.com Code                                                  NACE Description                                             NACE Level
97          97                                Undifferentiated services producing activities of private households for own use [97]                          3
97.0        970                                    Undifferentiated services producing activities of private households for own use [97.0]                   4
97.00       9700                                         Undifferentiated services producing activities of private households for own use [97.00]            5
Q           EX                        Extra-territorial organizations and bodies [Q]                                                                         1
QA          EXO                           Extra-territorial organizations and bodies [QA]                                                                    2
99          99                                Extra-territorial organizations and bodies [99]                                                                3
99.0        990                                    Extra-territorial organizations and bodies [99.0]                                                         4
99.00       9900                                         Extra-territorial organizations and bodies [99.00]                                                  5




     NACE Rev.1.1                                                                                                                             Page 22 of 24
NACE Classification Levels:
Level 1: 17 sections identified by alphabetical letters A to Q;
intermediate level: 31 sub-sections identified by two-character alphabetical codes;
Level 2: 62 divisions identified by two-digit numerical codes (01 to 99);
Level 3: 224 groups identified by three-digit numerical codes (01.1 to 99.0);
Level 4: 514 classes identified by four-digit numerical codes (01.11 to 99.00).

				
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