HONG KONG, 18 May 2021. Pengyuan International (PENGYUAN) has today published its criteria for national scale ratings mapping.
This criteria article describes PENGYUAN’s approach in mapping national scale ratings from PENGYUAN’s global scale ratings. National scale ratings are opinions on the creditworthiness of an obligor or obligation relative to other obligors and obligations within a single country. The main purpose of assigning national scale ratings is to provide a greater credit differentiation among obligors and obligations in countries whose country- specific risks result in using only a partial section of the rating scale and ratings that are clustered within a few rating categories. PENGYUAN’s national scale ratings are derived based on country-specific mapping tables that determine the relationship between our global and national scale ratings.
To distinguish from global scale ratings, national scale ratings will have a suffix to denote the country (e.g., ‘AAAru’ for Russia). PENGYUAN’s national scale ratings contain both long-term and short-term scale ratings. Credit Watch and Outlooks are assigned in the same manner as we do for our global scale ratings.
Ke Chen, PhD
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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 the rating 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 on its website without prior notice and at its sole discretion.
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