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Overview
Rating Process
Rating Process
FiinRatings’s credit rating process begins upon receipt of a client’s request, includes due diligence, analysis, decision and publication of the results, followed by periodic updates every six months. Typically, an initial credit rating process takes approximately 6–8 weeks, depending on the level of complexity and the client’s ability to provide information.
Finalize contracts and provide
information as requested
Receive rating requests from issuer and and sign the contract. Issuer prepares and submits the information and documents as required by FiinRatings.
Due diligence
and analysis
Perform preliminary analysis, in-depth interview with the Management Team of the Issuer, and conduct other information-gathering activities.
Identify Principal Risk
Components (PRC)
Analyze key risks from information obtained and conduct peer comparison to identify risks affecting the issuer’s ability to fulfil debt obligations.
Propose preliminary Rating to
the Credit Rating Committee
The Analyst team presents their opinion and propose a rating score to FiinRatings’ Rating Committee.
Review the Rating proposal
from the Analytical Team
CRC members review documents provided by the analysts.
Discuss the
Proposal
CRC discusses and evaluates the rating proposal by the analysts.
Finalize the
Proposed Credit Rating
CRC casts their votes on the credit rating result.
Inform the result to the Issuer and
request a review from the CRC (if needed)
Notify the Issuer with a pre-publication rationale for its credit rating result. In case the Issuer appeals and provides further information, CRC discusses further and agrees on the final rating result.
Publish the
rating result
Announcing the rating result and archiving the documents related to the rating action.
Surveillance
and update
Conduct periodic surveillance to re-evaluate the credit rating at least every 06 months or immediately upon occurrence of events that affect the issuer’s credit rating result.
Update to the Credit Rating Operational Procedures
Basic Information Requirements
Below is a list of basic information that Issuers need to provide to FiinRatings when engaging in a rating action. The detailed list will be discussed during the working process between the two parties.
- Legal documents related to business establishment, investment registration certificate
- Information about the Board of Directors, Board of Members, and Executive Board
- Charter, Operational Regulations, Organizational Structure
- Information about key products and services
- Research, analysis and evaluation reports on the main lines of business in which the company operates
- Company development strategy and business plan
- Audited financial statements
- Financial forecasting model
- Financial management policies and management reporting
- Debts and repayment schedule
- Legal documents of important projects
- Important contracts and commitments
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