Rating history review and discussion

Discussions with management, due diligence;
Review of rating history;
Identification of constraints to upgrades.

Credit analysis

Confidential in-house credit analysis;
Identification of key risks and rating drivers;
Recommendation on possible actions to improve credit profile.

Formally engage
rating agency(ies)

Request existing agency for rating review; or
Identify the rating agency to be engaged based on analytical quality, methodology, biases, outlook and approach.

Rating strategy and
presentation

Develop rating strategy;
Packaging credit story;
Preparation of rating book and rating agency presentation.

Management preparation

Coach management for agency meeting, questions the agencies will ask and their most effective answers to increase analyst’s understanding of the company;
Strategy for agency meeting – supplemented by mock interviews;
Identify and develop counter-arguments to their negative views.

Rating agency meeting

Facilitate presentation – the way agencies really need.

Rating agency analytical process and follow-up

Comprehensive follow up with analysts following the meeting.

Rating committee
decision

Verbal communication of rating outcomes with rationale;
Advise whether to appeal or accept the outcome and convert to a public rating as appropriate.

Ratings report

Review of agency press releases for errors, misstatements, or omission of material information;
Review of detailed ratings report.

Investor/stakeholder communication

Assistance in preparing communication of rating to investors and/ or other stakeholders.