The diagram highlights the steps involved in MARC's Rating Process:

Obtain Rating Mandate
Information Request
Forward questionnaire to client that includes specific industrial and company clarification
Perform in-depth analysis and evaluation
Analysis and evaluation credit risk based on the appropriate rating
Assignment of rating
Recommendation is made to the Rating Committee for a decision on the rating
Press Announcement Credit Analysis and publication of report
Release Press Announcement and publish Credit Analysis Report upon client’s confirmation
Surveillance and monitoring
Ongoing monitoring of material events that include industry and regulatory development, operational risks and triggers of non-compliance to specific terms
  1. MARC's Rating Process begins with a specific rating mandate from the client. As a policy, all rating assignments are executed by a team of two or more analysts, to eliminate any personal bias.

  2. The rating team conducts preliminary research and collects relevant information from the client, prior to conducting management meetings with various business heads and senior management of the client.

  3. The rating team prepares a Credit Analysis Report and proposes a rating(s). The rating assessment which will reflect the application of MARC's rating methodology is presented to MARC's Rating Committee, which has the sole authority to assign ratings.

  4. The typical rating process takes about 6 weeks from mandate comprising 2 weeks of data gathering phase, 2 weeks for MARC to complete its internal rating process (from submission of all required information) and 2 weeks for preparation of report and factual verification by issuer.