Information and Rating Agency

Agency`s Rating Procedures

To date, the Agency has developed widely used two kinds of ratings - credit rating and investment attractiveness rating.


Credit rating is a measure of a company`s creditworthiness, which is calculated on the basis of its financial condition, assets availability and exposure to country risks.


It should be noted that the above mentioned rating may be both short-term (duration - up to 3 months) and long term (duration - up to 1 year). Assignment of short-term credit rating involves Status Credit Report preparation. It is an integrated summary of credit information about an importer that includes a set of data and analysis required by ECA`s underwriters to make a decision regarding insurance of a particular transaction or a credit line.


Long-term credit ratings are assigned by Credo Line Agency as a result of creditworthiness investigation of a company (usually an importer) that are performed in the form of Status Credit Rating Reports. This report often has the same application as Status Credit Report. Unlike the latter, it is developed on the basis of in-depth and extensive study of the target company or a Group of companies/Holding (more often). This type of rating is a comprehensive conclusion of a long-term study of target company`s/Group`s of companies creditworthiness.


Rating of investment attractiveness is an estimation of a definite level of financial, production, organizational, marketing, legal and other requirements or investors’ interests concerning specific business project or company. The result of investment attractiveness evaluation is Investment Attractiveness Report.


Despite the differences between the above mentioned ratings, their assignment procedure in each case has the same algorithm.


In order to systematize an analysis process of Target Company/Group of Companies/Investment project (TC/GC/IP) Information and Rating Agency Credo Line uses its own rating procedure. The procedure allows to control efficiently run of every specific rating stage up to the moment of rating assignment and its further monitoring.


  • The Agency’s investigation begins from inquiry for rating assignment from TC/GC/IP leaders or interested partner/contractor of TC/GC/IP. All information transferred to Credo Line within the ordered investigation is used by the Agency in terms of strict confidentiality.
  • The Agency forms working group of analysts and appoints senior analyst, who controls investigation process and is the main contact person for the client.
  • Working group of analysts analyses information about TC/GC/IP (financial statements, registration data, credit history etc.), received directly from a company, as well as from information from official and other public resources, which the Agency considers reliable.
  • Group of analysts systematizes collected materials about TC/GC/IP, studies received information, calculates and analyzes main indicators of TC/GC/IP.
  • Based on received and analyzed data, group of analysts assigns preliminary rating for TC/GC/IP.
  • Rating committee meeting is held where the facts, which influence on rating assignment for TC/GC/IP are discussed, and the final decision concerning rating value for TC/GC/IP is taken.
  • According to the investigation results, a report is prepared, which is sent to TC/GC/IP leaders or interested partner/contractor of TC/GC/IP.
  • Senior analyst informs TC/GC/IP leaders about assigned rating by Notification on assigned rating or Certificate on assigned rating**.
  • Upon TC/GC/ IP leaders approval, the Agency publishes on its web-site information about assigned rating.
  • On a regular basis the Agency monitors and analyzes changes in activities of study subject, its current position on market, as well as revalues macroeconomics and political situation in the country.
  • Based on actualized data about TC/GC/IP, assigned rating report is a subject ti regular updates (automatically or on request). The Agency has a right to review rating value of the TC/GC/IP.


*Notification on assigned rating – document, which confirms a score of assigned short-term credit rating for TC/GC. It is issued as a result of Status Credit Report preparation by the Agency.


**Certificate on assigned rating – document, which confirms a score of assigned long-term credit rating for TC/GC or investment attractiveness rating for IP. It is issued as a result of Status Credit Rating Report or Investment Attractiveness Report preparation by the Agency.