PENGYUAN INTERNATIONAL

HONG KONG, 7 May 2018. Pengyuan International (“PENGYUAN”) has today published three new criteria reports, namely its Global Insurance Rating Criteria, Criteria for Servicer Evaluations, and Corporate Financial Adjustments and Ratio Definitions. The criteria are effective immediately and no existing ratings have been affected upon their publication.

 

PENGYUAN’s Global Insurance Rating Criteria set forth the general principles behind the rating agency’s analytical framework for the industry. The criteria will apply to three broad insurance sectors globally, namely life and annuities, property and casualty, and reinsurance. PENGYUAN adopts a principle- and risk-based approach in evaluating an insurer’s credit characteristics, which are captured by its Insurer Financial Strength Rating, a globally comparable, forward-looking opinion on an insurance operating company’s ability to repay its policyholder obligations on time and in full.

 

PENGYUAN’s Criteria for Servicer Evaluations describe our approach to assigning servicer evaluation ratings, which assess a servicer’s ability to perform its servicing duties and its management of operational risks. The servicer evaluation ratings focus on the quality of the servicing operations rather than the creditworthiness of the servicer. Accordingly, the servicer evaluation ratings are distinct from our credit ratings and are subject to different ratings criteria and scales. PENGYUAN assesses a servicer’s capabilities through an examination of various performance areas and within the context of the servicing types and portfolios.

 

PENGYUAN’s Corporate Financial Adjustments and Ratio Definitions illustrate how the rating agency adjusts corporate issuers’ reported financials to make their credit ratios comparable. These criteria are intended to facilitate investors’ understanding of our General Corporate Rating Methodology and outline the different types of financial statement adjustments used in our rating analysis of non-financial corporate issuers globally.

 

For more details, please visit http://www.pyrating.com/methodology.

 

ANALYST CONTACTS

 

Chief Analytics Officer

Tony Tang

tony.tang@pyrating.com

+852 3615 8278

 

Financial Institutions

Stanley Tsai, CFA

stanley.tsai@pyrating.com

+852 3615 8340

 

Structured Finance

Ke Chen, PhD

ke.chen@pyrating.com

+852 3615 8316

 

Corporates

Winnie Guo

winnie.guo@pyrating.com

+852 3615 8344

 

MEDIA CONTACT
media@pyrating.com

 
OTHER ENQUIRIES
contact@pyrating.com


DISCLAIMER
Pengyuan Credit Rating (Hong Kong) Company Ltd (“Pengyuan International”, “Pengyuan”, “the Company”, “we”, “us”, “our”) publishes credit ratings and reports based on the established methodologies and in compliance with threating process. For more information on policies, procedures, and methodologies, please refer to the Company’s website
www.pyrating.com. The Company reserves the right to amend, change, remove, publish any information omits website without prior notice and at its sole discretion.
All credit ratings and reports are subject to disclaimers and certain limitations. CREDIT RATINGS ARE NOT FINANCIAL OR INVESTMENT ADVICE ANDMUST NOT BE CONSIDERED AS A RECOMMENDATION TO BUY, SELL OR HOLD ANY SECURITIES AND DO NOT ADDRESS/REFLECT MARKET VALUE OF ANY SECURITIES. USERS OF CREDIT RATINGS ARE EXPECTED TO BE TRAINED FOR INDEPENDENT ASSESSMENT OF INVESTMENT AND BUSINESS DECISIONS.
CREDIT RATINGS ADDRESS ONLY CREDIT RISK. THE COMPANY DEFINES THE CREDIT RISK AS THE RISK THAT THE RATED ENTITY MAY NOT MEET ITS CONTRACTUAL AND/OR FINANCIAL OBLIGATIONS AS THEY BECOME DUE. CREDIT RATINGS MUST NOT BE CONSIDERED AS FACTS OF A SPECIFIC DEFAULT PROBABILITY OR AS A PREDICTIVE MEASURE OF A DEFAULT PROBABILITY. Credit ratings constitute the Company’s forward-looking opinion of the credit rating committee and include predictions about future events which by definition cannot be validated as facts.
For the purpose of rating process the Company obtains sufficient quality factual information from sources believed by the Company to be reliable and accurate. The Company does not perform an audit and undertakes no duty of due diligence or third-party verification of any information it uses during threating process. The issuer and its advisors are ultimately responsible for the accuracy of the information provided for threating process.
Users of the Company’s credit ratings should refer to the rating symbols and definitions published on the Company’s website. Credit ratings with the same rating symbol may not fully reflect all small differences in the degrees of risk, because credit ratings are relative measures of the credit risk.
NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS OR COMPLETENESS OF ANY INFORMATION GIVEN OR MADE BY THE COMPANY IN ANY FORM OR MANNER. In no event shall the Company, its directors, shareholders, employees, representatives be liable to any party for any damages, expenses, fees, or losses in connection with any use of the information published by the Company.
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Copyright ? 2018 by Pengyuan Credit Rating (Hong Kong) Company Ltd. All rights reserved.

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