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Operations  Methodology  Ratings  Services  Materials

 

Procedure

Application

Clients submits an application for the rating procedure with indicating the main conditions: issuer or bonded debt  and the time interval (for long-term ratings (more than two years) and short (less than two years)).

 

Preliminary information gathering

After receiving an application Muros Ratings specialists assess effort to collect the full package of information (if the issuer does not provide all or part of the requested information). Muros Ratings guarantees that confidential information will be kept safe.

 

Agreement of rating procedure

After assess effort we signing an agreement on implementation of rating procedure. At this time company and client’s representatives discuss all the questions concerning rating assignment and main aspects of future cooperation, in particular, cost, timing, volume and order disclosure of information.

 

Rating process

Gather information is an essential part of the rating process. Typically, the issuer provides most of requested information, but in case of not providing information as well as in the process of verifying information experts use different methods of collecting information: crossclients analysis, field analysis, involving experts and employees or competitors.

 

Analysis

All the information obtained from a client or other reliable sources is processed with a help of special methodologies, worked out by our agency.

Qualitativeanalysis – our specialists study management system of the issuer, financial and development plans, conduct SWOT-analysis, pay special attention to documentation, market niche, economic activity.

Quantitative analysis – analysts study accounts coefficients that determine financial activity and financial position of the issuer. We use both standard methods (analysis of internal and external factors, profitability) and special methods worked out by out analysts to determine financial position and development tendencies of the issuer.

Legal analysis – we study financial and economic activity of the issuer to be sure it corresponds to Country Legislation; analysis also includes studying of management, labor and business relations and legal field of cooperation between central office and affiliates.

After all types of analysis have been conducted, the results are brought together and analytic group sums up pilot analysis. Final meeting with client company managers serves for completing missing information or clearing up some questionable situations. It is necessary for qualified analysis and procession of final analysis results.

Final results represent characteristics of client’s business, assessment of its market niche, financial and strategic situation and development trends.

 

Rating committee

Analytic group prepares presentation based on results of analysis and suggests assigning one or another credit rating. The presentation is submitted to rating committee consisting of four or five members. All committee members are qualified in the sphere of client company’s activity. Having studied all the materials, rating committee takes a decision about credit rating assignment. A client receives written notice and rating report with detailed grounding of assigned rating.

 

Rating publication

Decision about rating publication is taken by a client individually.  Client may decide not to publish assigned rating or make it non-public. In the latter case, client may sell rating report under non-disclosure agreement.


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