
1

Rating history review and discussion
Discussions with management, due diligence;
Review of rating history;
Identification of constraints to upgrades.
2
Credit analysis
Confidential in-house credit analysis;
Identification of key risks and rating drivers;
Recommendation on possible actions to improve credit profile.
3

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.
4
Rating strategy and
presentation
Develop rating strategy;
Packaging credit story;
Preparation of rating book and rating agency presentation.
5
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.
6

Rating agency meeting
Facilitate presentation – the way agencies really need.
7
Rating agency analytical process and follow-up
Comprehensive follow up with analysts following the meeting.
8

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.
9
Ratings report
Review of agency press releases for errors, misstatements, or omission of material information;
Review of detailed ratings report.
10
Investor/stakeholder communication
Assistance in preparing communication of rating to investors and/ or other stakeholders.