Rating Services

Rating Process

CCXAP’s rating process emphasizes the professional skills and expertise applied in an orderly rating system. CCXAP’s credit analysts are degree-holders and possess a global view and rich knowledge of corporate governance, finance, risk management, industry specifics, and business trend analytical skills. CCXAP’s analysts collaborate with their colleagues in China in collecting data on rated entities and industries for their independent credit analysis carried out in Hong Kong.

Before a credit rating result is concluded and announced, it has gone through a rigorous approval process. The credit rating team submits the credit rating report of the rated entity to the rating director for vetting and quality evaluation. Upon endorsement of the credit rating report, it is then submitted to the credit rating committee for approval. The rated entity is then informed of the credit rating result. With respect to public rating, if the rated entity has no objection to the result, the credit rating result will be announced publicly. Should the rated entity disagree to the rating result before public announcement, the rated entity is allowed to send additional information to CCXAP for review of the credit rating result. If the credit rating team finds that the additional information may provide sufficient ground to change the credit rating result, the credit rating committee will be called for the review and a final credit rating result will be concluded, which will either remain the same or be revised to reflect the new information. For solicited rating, prior to issuing or revising a rating, CCXAP informs the rated entity of the critical information and principal considerations upon which a rating will be based and afford the rated entity an opportunity to clarify any likely factual misperceptions or other matters that it would wish to be made aware of in order to produce an accurate rating. CCXAP will duly evaluate the response. Where, in particular circumstances, it has not informed the rated entity prior to issuing or revising a rating, CCXAP would inform the rated entity as soon as practical thereafter and, generally, would explain the reason for the delay.

Flow Chart of Credit Rating Process
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