Rating is people’s business, not machines’
Rating agencies use different rating systems in some cases. What is more, there may be some divergence from agency to agency in the methodological approach, the degree of standardisation and the enhancement of such standardisation. Like the large renowned agencies, we pursue a strategy of keeping the rating as stable as possible across the entire (sector) economic cycle (“through-the-cycle” approach). This means that severe risks specific to the business model in question are factored into the evaluation of a company’s creditworthiness and future viability. In the long run, our conservative approach instils greater confidence and heightens the credibility of our ratings as they provide creditors and investors with an accurate assessment of the actual risk profile. Our method is characterised by its focus on continuity and methodology. This helps to avoid misallocation on the part of issuers (companies) and investors.
Basic Principles for assigning Ratings
> Basic Principles for Assigning Credit Ratings and Other Services (PDF)
Our Methodologies
Methodology Archive
> Guidance regarding the consideration of ESG factors – retired on 2 May 2022
> Guidance regarding the consideration of Public Support in Credit Ratings – retired on 2 May 2022
> Issue Rating Methodology 19 December 2014 – formally amended on 14 November 2017 – retired on 2 May 2022
> Methodology Issuer Rating 31 May 2016 – formally amended on 14 November 2017 – retired on 2 May 2022
> Project Rating Methodology(General) 7 April 2017 – withdrawn on 29 April 2022
> Project Rating Methodology(Real Estate) 30 June 2017 – withdrawn on 29 April 2022
> Project Rating Methodology(Renewable Energy) 3 April 2018 – withdrawn on 29 April 2022