Rating and Research
CRIF Ratings assigns ratings to:
- Corporates (issuer ratings)
- Financial instruments (issue ratings)
The rating process typically involves the top management of the rated company (and, where significant, the owners). The rating provides an independent opinion on the ability and willingness of the issuer to meet its financial obligations fully and timely. The analysis, aimed at assessing the ability to generate sufficient future cash flows to repay the debt, focuses on two main areas:
- business risk: the analysis of the sector the company operates in, its competitive positioning and strategies, as well as the country risk in terms of economic and structural factors and trends
- financial risk: the historic and future analysis of the main economic and financial figures and ratios, cash flows and the financing source structure.
As an ECAI recognized company, ratings issued by CRIF Ratings can be used to fulfill the prudential requirements of capital and solvency by Credit and Financial Institutions, Insurance and Reinsurance Companies.
Taking advantage of the analytical and methodological know-how and information assets of CRIF Group, CRIF Ratings offers the following ancillary services.
For the Corporate and Public Administration segment:
- Benchmarking Analysis, where the assessment of the risk of an entity is expressed by means of a risk indicator, and can be structured into modular solutions;
- Financial Planner solution for the historical and future assessment of companies, which allows simulation of the economic, financial and equity performance of counterparties through the simulation of over 40 balance sheet items and the consequent construction of a forecast balance sheet, which also contains a comparison with trends in the reference sector;
- Risk Assessment, where the assessment of an entity is represented by a summary report, based on public information processed by analysts, which also includes the risk indicator;
- Solvency Assessment, represented by a detailed report, where the assessment of the entity, based on public information and any private information processed by analysts, also includes the risk indicator.
For the Confidi* segment:
- Dimensione Confidi, where the assessment of the Credit Guarantee Consortia is represented by a summary report, based on public and private information processed by analysts, which also includes the Confidi risk indicator;
- Solvency Assessment Confidi, represented by a detailed report, based on public and private information processed by analysts, which also includes the Confidi risk indicator.
Furthermore, CRIF Ratings sells:
- Private Credit Estimate (PCE): a private indication of the likely creditworthiness of a company or of a debt instrument within the framework of acquisitions, sales, restructuring or extraordinary debt or capital transactions. It can be requested by the company itself or by a third party.
- Industry analysis: analysis only (on a quantitative or qualitative basis) of the main macro-economic, balance sheet and credit risk indicators for an industrial sector.
*Mutual Credit Guarantee Consortia, financial intermediaries that provide guarantee to SME for bank loans