Credit rating assignment process
The process of assigning a credit rating is carried out in the following main stages:
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signing the contract for credit rating assignment
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obtainment by EuroRating of initial essential information about the rated entity (including historical financial statements)
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initial economic and financial analysis
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a visit of a rating analyst in the premises of the rated entity, a meeting with management representatives, obtaining additional information and explanations essential to conduct the credit risk assessment
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carrying out a full-scope analysis of the economic and financial situation of the rated entity and the assessment of its credit risk
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determination of a rating proposal by the lead rating analyst and preparation of a rating report
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approval of the rating by the Rating Committee
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presentation of information about the assigned rating (along with the rating report) to the rated entity.
Depending on the rated entity’s decision:
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publication of the assigned rating and the rating report and transmitting by EuroRating to the rated entity a certificate of credit rating assignment (public rating)
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or transmitting of information about the assigned rating and the rating report only to the rated entity and/or a narrow group of third parties (private rating)
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or completion of the rating assignment process without a disclosure of the rating to any third parties.
In case of a continuation of the rating assessment:
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continuous future monitoring of the economic and financial situation of the rated entity
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quarterly updates of the assigned credit rating, amongst others based on data and information (including quarterly financial statements) submitted by the rated entity
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after each update of the credit rating – transmitting to the rated entity a current credit rating certificate confirming the current level of the assigned rating
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periodical updates of the full rating report (usually once a year), and, in case of a change of the rating level in the meantime, publication of a rating note with a justification for the change
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continuous publication of information about the assigned credit rating (and conducted rating updates), as well as rating reports, on the EuroRating's website and in partners' services; from 2016 - also on the European Rating Platform developed by ESMA.