Credit rating assignment process

The process of assigning a credit rating is carried out in the following main stages:

• signing the contract for credit rating assignment

• obtainment by EuroRating of initial essential information about the rated entity (including historical financial statements)

• initial economic and financial analysis

• a visit of rating analysts in the premises of the rated entity or an online meeting with representatives of the rated entity, obtaining additional information and explanations essential to conduct the credit risk assessment

• carrying out a full-scope analysis of the economic and financial situation of the rated entity and the assessment of its credit risk

• determination of a rating proposal by the lead rating analyst and preparation of a rating report

• approval of the rating by the Rating Committee

• presentation of information about the assigned rating (along with the rating report) to the rated entity.

Depending on the rated entity’s decision:

• 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)

• 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)

• 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:

• continuous future monitoring of the economic and financial situation of the rated entity

• quarterly updates of the assigned credit rating, amongst others based on data and information (including quarterly financial statements) submitted by the rated entity

• 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

• 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

• continuous publication of information about the assigned credit rating (and conducted rating updates), as well as rating reports, on the EuroRating's website, on partners' services, and on the European Rating Platform provided by ESMA.