Rated entities and Instruments
Here we present all current and past ratings assigned to our client's bonds and other debt instruments. The most recent updates are provided. The ratings for debt instruments that are redeemed are marked with asterisks (*).
Credit Rating Definitions
Хөрөнгө оруулахуйц ангилалын зэрэглэл:
Эргэлзээт ангиллын зэрэглэл:
Дефольт ангиллын зэрэглэл:
Зэрэглэл нь харилцагчийн санхүүжих чадавхийн талаар ирээдүйд чиглэсэн ерөнхий, эсвэл тухайлсан өрийн хэрэгслийнх нь хувьд харьцангуйгаар гаргасан дүгнэлт юм. Санхүүжих чадавхийн зэрэглэлийг санхүүжих чадавхийн төлөв мөн дагалдана.
Санхүүжих чадавхийн төлөв
Зэрэглэлийн төлөв нь ирээдүйд санхүүжих чадавхийн зэрэглэлд нөлөөлж болзошгүй давамгай хандлагын төлөв байдал бөгөөд ойрын 1 жилийн хугацаанд тухайн тогтоосон зэрэглэл хэрхэн өөрчлөгдөх боломжтойг илэрхийлнэ.
Төлөвүүд:
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Эерэг
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Тогтвортой
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Сөрөг
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Хувьсах (хүлээлгийн)
General Framework for Rating Methodology
This methodology is designed for evaluating the creditworthiness of companies and their debt instruments. It does not apply to project-based companies or financing vehicles. The procedure for determining the credit rating consists of the following three steps:
1. Base credit rating
2. Adjusted credit rating
3. Future prospect
1. Base Credit Rating
The base credit rating is determined based on 5 groups of risk factors with 18 sub-factors in total (see Table 1). The significance of each risk factor will vary depending on the economic sector where the company primarily operates.
Table 1. Risk factors for base credit rating
Each risk factor is assessed through both quantitative and qualitative analyses.
2. Adjusted Credit Rating
At this stage, the base credit rating is adjusted upward or downward based on an assessment of the potential effects of the specific financial instruments, additional sources of funding, and the risk of financial distress.
3. Future Prospects
At the final stage, we evaluate the future prospects of the credit rating. The future prospect reflects the CRA’s assessment of whether the current rating may be upgraded, downgraded, or remain stable over the next year. To inform this evaluation, we consider additional risk factors, including stress testing, potential operational changes, and the risk of possible legal charges, all of which may impact the company's future creditworthiness. The future prospect is subsequently published alongside the final credit rating.