Issue Credit Rating

FiinRatings provides an independent opinion on the creditworthiness of financial obligations such as bonds and commercial papers. This opinion reflects the issuer's capacity and willingness to meet the financial obligations as they come due. We also take into consideration the creditworthiness of guarantors, insurers, or other forms of credit enhancement to reduce the risk of the instrument. Besides, we also assess related conditions, including collateral assets, subordination, loan payment orders, which could affect the issuer's capacity to fulfill its financial obligation of the issuer.

Rating methodology

Rating criteria

Financial position of an issuer represented by the Issuer Credit Rating
Debt obligation's structure and payment term
Planned usage of capital source from debt obligation and payment source
Guarantee forms, including unsecured, collateralized, guaranteed

Rating surveillance

Update issuer credit rating periodically
Assess the efficiency of mobilizing capital and debt payment forecasts by models and in-depth analysis
Update constantly about micro- and macroeconomics, financial and non-financial factors that could affect the cash flows related to the debt instrument

For more information on FiinRatings' credit rating methodology, see here.