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
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.
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
crossclients analysis, field
analysis, involving experts and employees or competitors.
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.
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.
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