Within the framework of a well-founded credit rating assignment, our rating process is oriented towards the requirements for the data basis as well as the risk-specific complexity. For example, the rating process for local authorities has different data requirements than the rating process for private companies. Here, in turn, the requirements for the data basis differ between listed companies and medium-sized companies without capital market financing. As an example of the assignment of a corporate rating, the rating process basically consists of the following six steps:
- Order placement
- Rating assignment
- Creation of rating documentation
- Approval by rating committee
- Rating handover
- Rating monitoring
The task of the Rating Committee is to critically review the rating assessments of the analyst teams and to decide upon the credit rating by majority vote. A decision by the Rating Committee is a prerequisite for the final rating in terms of quality and follow-up control. The powers of the Rating Committee to issue ratings that deviate from the rating assessment of the analyst team are clearly defined and restricted by internal guidelines. The relevant cases are documented and submitted to the Supervisory Committee of the Board of Directors for review.