Rating advisory

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What is a rating?

The main rating agencies (Standard & Poor's, Fitch, Moody's) evaluate issuers' ability to repay their debts, i.e., to repay the right amounts on the right dates, and assign them a corresponding rating.

A credit rating can have a significant impact on a borrower's cost of financing. Rating Advisory is to facilitate the relationship between issuers and rating agencies in order to obtain the best possible rating for the client so that the latter can borrow under optimal conditions.

What is the objective of Rating Advisory?

The objective is to help the company to highlight its strengths and assist it in its weaknesses. At the beginning, a "credit story" is written. It requires a thorough study of the company's accounts (balance sheet, income statement) and strategy but also of the regulatory environment of the studied sector. It involves comparing the company to its competitors and implies a deep financial analysis of the company. It is also necessary for the company to take into account the expectations of bond investors (duration, amounts, liquidity, structure) so that the security is attractive.

This will result in a rating book.

Rating Advisory works closely with coverage, bond syndication, DCM and ECM services (primary debt and primary equity), as well as including acquisition financing.

ESG Rating is usually complementary to traditional rating, increasing the information available, and improving the resulting evaluation, and investment choices.