Rating Products

发布时间:2017-07-31 10:15:04    点击:

Rating Products

Rating products comprehensively examine the debtors’ credit risks and assess their debt repayment capabilities. The products are applicable to corporate ratings including country, government and business rating, as well as financing product rating.

 

1. Country Credit Rating

Product Overview:

The country credit rating mainly assesses the overall debt repayment capability of a country, including a country’s political and legal environment, credit environment, economic strength, financial and foreign exchange risk, and country credit risk (including the impact of credit risks of household, nonfinancial corporations and government sectors to a country’s credit risk). Based on the accurate understanding of the credit economy, our country credit rating creatively apply the three types of credit relationships which are underpinned by actual wealth, future wealth and no wealth (also termed as virtual credit relationships) respectively, to the rating practice, profoundly revealing the impact of the status of the composition of the three types of credit relationships in a country’s credit system on the fundamental driving force of a country's economic growth and its repayment capability. At present, Dagong’s country credit rating covers 42 countries/regions across the world.

Product Applications:

The product provides a systemic, comprehensive and globally comparable country credit risk assessment for countries (regions) and early warnings for special risk issues, providing reference for investors' global asset allocation and credit risk management.

 

2. “The Belt and Road” Country Investment Environment Rating

Product Overview:

"The Belt and Road" country investment environment rating focuses on investment risk and investment value of the countries along the Belt and Road. The rating covers 65 countries along the Belt and Road, assessing each country’s investment risk and investment value from the perspective of political and legal environment, financial environment, infrastructure and the economic development potential.

"The Belt and Road" investment environment rating products covers the following kinds: 1. Investment environment rating reports of 65 "The Belt and Road" countries; 2. Investment environment research reports of "The Belt and Road" countries; 3. Investment environment databases of " The Belt and Road " countries; 4. Other credit information derivative products.

Product Applications:

"The Belt and Road" country investment environment rating effectively helps investors to solve problems during the investment process, such as investment analysis, investment decision-making, risk identification, risk warning, risk management and other issues, so it is of great practical significance in seizing the investment opportunities, optimizing investment decisions and avoiding investment risks. It also effectively helps investment-receiving countries to identify their own endowments and competitive industries, inviting more business and attracting more investment, so that to achieve the complementary advantages, mutual benefit and win-win situation of both sides.

 

3. Sovereign Credit Rating

Product Overview:

Based on the four rating factors which are the debt repayment environment, wealth creation capacity, sources of debt repayment and government solvency, the sovereign credit rating comprehensively evaluates the solvency of central government. Dagong Sovereign Credit Rating comprehensively and systematically reflects the characteristics and internal conduction mechanism of sovereign credit risk of countries (regions).It also monitors and forecasts the political, economic, financial, fiscal and foreign exchange risks, and provides the corresponding historical data and forecast data for the next 2 years for each nation (region). Dagong Sovereign Credit Rating has covered 100 major countries (regions), including 41 "The Belt and Road” countries.

Product Applications:

To help investors fully and systematically understand the credit risks of sovereign governments, and to issue an early warning to the special risk points, so as to provide a reference for the rational allocation of global assets and controlling the risks of government investment projects.

 

4. Local Government’s Credit Rating

Product Overview:

The credit rating of local government is to judge the overall debt-paying ability of global local government. With the respect of debt repayment environment, wealth creating capability, sources of repayment and repayment capability, Dagong profoundly reveal the internal conduction mechanism of local government’s credit risk, and decide local government’s repayment capability for maximum debt, repayment capability for outstanding debt and repayment capability for incremental debt. Dagong’s credit rating of local government clarifies the relationship between local government rating and sovereign rating, and realizes consistency and comparability of local government credit level globally. Currently, Dagong has rated general and special debts of several provincial governments in China and delved into the local governments’ credit of several countries.

Product Applications:

To provide credit rating service on local government debt issue; to provide investors with global comparable local government credit rating; to provide reference for investing local government investment projects and projects guaranteed by local government.

 

5. Enterprise Credit Rating

Product Overview:

Enterprise credit rating is a comprehensive evaluation of the debt solvency capability of global listed enterprises. Enterprise credit ratings primarily focus on active enterprises in the global open market,by analyzing and researching their credit risks, issuing credit rating reports.

Product Applications:

Enterprise credit rating can scientifically and synthetically disclose the credit risks of enterprises; the rating results can be applied as a reference for investors’ portfolio management.

 

6. Financing Product Credit Rating

(1)Supply Chain Finance Rating

Product Overview:

Based on the overall environment of supply chain finance, the credit rating of supply chain finance is the credit risk grading on financing entity of supply chain finance service.

Product Applications:

To reveal credit risk level of financing entity, to improve efficiency of assessing and identifying risk of a loan enterprise; to increase credit identification degree of financing entity with good credit profile, to improve financing efficiency; to increase information transparency of supply chain, to increase efficiency of supply chain finance service.

(2)Infrastructure Project Rating

Product Overview:

The rating of infrastructure project is to rate self financed project with operational cash flow to serve as the main source of debt repayment, which is a rating on global infrastructure solvency. Dagong’s infrastructure rating takes into account of both the characteristics of construction and operation period debt repayment ability,it first introduced the concept of green bond rating, it combines the sustainability of the project with the adequacy of debt repayment to comprehensively judge the credit risk of infrastructure projects.

Product Applications:

Through real-time monitoring infrastructure projects constructional and operational credit risk, these provide investors with accurate credit information to identify valuable infrastructure projects. Granting rating service to high credibility to infrastructure and green bond projects as well as helping the projects to get smooth finance. Promote the credit management level of infrastructure projects to prevent credit risk.

(3)Structured Finance Rating

Product Overview:

According to the principles of credit rating created by Dagong, the credit rating of structured financing products deals with special purpose vehicle (SPV) that has specific creditor’s right, income right or right on assets with individual future cash flows.

Product Applications:

To reveal credit risk of structured financing products, to provide accurate credit rating information for investors to screen for valuable structured financing products; to provide credit rating service for structured financing products with high credit quality, to help issuing entity finance smoothly; to improve the credit management level of structured financing products, to prevent credit risks.