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OTHER OPERATIONS
Rating Companies
Rating Conditions
| To participate in the rating process, a commercial organization shall furnish the Central Bank with their financial statements. In addition to financial statements required, the commercial organization being rated shall provide to the Central Bank any information as required by the interviewer of the Central Bank. |
| Enterprise rating procedures |
The CBA has developed the methodology of enterprise rating, which comprises proper investigation of credit history of enterprises and the quantitative and qualitative analysis of its activities and performance.
- Investigation on company's credit history. The first step in the rating process is investigation of credit history of an enterprise. Its objective is to evaluate the record of honoring previous and current loan or other credit obligations of the enterprise. The repayment schedule of received loans and their interest payments, number of overdue days, the principal amount of the loan and its interest (if available), etc. is studied. This credit history investigation is done on the basis of data from the CBA Credit Registry, and, in some cases, on the basis of information from commercial banks and enterprises to be rated.
- The quantitative analysis. The quantitative analysis of enterprise performance is carried out on the basis of their financial statements. To provide trustworthiness and reliability of information the preference is given to the financial statements approved by an independent audit company. While performing the quantitative analysis of an enterprise, special attention is paid to the quality of assets, structure of its capital, economic activity, and its overall performance, particularly - return on assets and equity. The quantitative analysis is carried out by using a system of financial ratios.
- The qualitative analysis. The qualitative rating of the enterprise's activities is carried out using a questionnaire developed by the CBA sent to the management of selected enterprises. The questionnaire consists of two main parts, one of which estimates the external environment of the enterprise and the other deals with its internal environment. While investigating and analyzing the internal environment of the enterprise, special attention is given to its business strategy, application of the corporate governance principles, as well as quality of management and human resource policies. Analysis of the external environment distinguishes the relations of the enterprise with its consumers, suppliers, competitors and the tax and regulatory authorities, as well as its competitive position and the diversification of the distribution network.
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