Which Numerical Grade does a Charlton Catalogue "VF" grade correspond to?

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It's well known that the VF grade is by far the "widest" of all grades moving as it does through four (4) distinct numerical levels, i.e., VF-20, VF-25, VF-30 and VF-35. The Fine grade ends at F-18 and the EF grade kicks in at EF-40.

I've seen some ghastly third-party graded VF-20's that look VG-F at best while I've also seen some VF-35's that look like full EF's to me.

My question is this. Which numerical grade does the "VF" grade in the Charlton Catalogue pricing sections correspond to? In particular, is a "Charlton VF" the bare minimum VF-20 grade, or perhaps a mid-point VF-27.5 grade? When referring to third-party grading companies in the present context I'm talking about Canadian companies, not US companies, although hopefully the day will eventually come when the Canadian, American (and International) grading scales will merge.

After cogitating on this for a few days, here's what I've determined.

Charlton VF = VF.  They don't use a numerical system.

Also, VF by Charlton standards is a pretty decent note, one that gives you the most bang for the buck.  Eye appeal really drops off quickly below VF.  Collectors seem to want either perfection (Unc) or cheap material (Fine or worse), so the relatively low catalogue pricing for VF notes is probably due to low demand in this area.  Auction results also tend to reinforce this as high end collectors stick to premium material while middle grade notes tend to fall into the hands of people on a budget, people who don't care too much if they get a VG or a VF for whatever amount they have to spend.

BTW I was kidding about cogitating on this for the past few days.