The core business of Eu-Ra Europe Rating consists of issue opinions on the creditworthiness of a particular issuer or financial instrument. In other words, Eu-Ra assesses the likelihood that an issuer will default either on its financial obligations generally (issuer rating) or on a particular debt or fixed income security (instrument rating).

In the present context (attention to risk management; Basel 2 Agreement) credit rating evaluation represent for the enterprises a sort of "mark of guarantee, quality and transparency". In particular:

• when the enterprise decides to issue a bond (or in the case of other operations on the market), credit rating is a ratio which demonstrates the capacity and willingness of the obligor to meet its financial commitments, important information for underwriters;
• in the other cases:



• credit rating represents a valid tool to understand risks in comparison with competitors and/or industry sector; in fact credit rating represents an indicator of the economic and financial trend of the enterprise as well as of the efficiency of management and market perspectives;
• credit rating represents an evaluation for shareholders, potential investors, customers, suppliers and personnel, because credit rating process consists of the assessment of reliability and state of health of the enterprise.



Issue and credit analysis:

• for companies to know their credit ratings, to know credit rating of customers and suppliers, of participating enterprises, etc.
• for credit institutions
• for "consorzi di garanzia".

Rating criteria and processes
Solecited ratings and unsolecited ratings
Issuer ratings