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Rating Elements
A rating agency earns its reputation by assessing the client's operational performance, managerial competence, management and organizational set-up, and financial structure. It should be an independent company with its own identity. It should have no government interference. Rating of an instrument does not give any fiduciary status to the credit rating agency. It is desirable that the rating is done by more than one agency for the same kind of instrument. This will attract investors' confidence in the rating symbol given.
Rating Symbols
Since the ratings of the agencies will be used even by lay investors, the outcome of the rating should be delivered in an understandable manner. To facilitate this, rating symbols are provided. These rating symbols must be easily comprehensible to the investors to enable them to take investment decisions. The investor will not have to depend wholly on the broker's advice as the rating symbol gives a clue to the credibility of the issuer. Different rating agencies use different symbols and distinct symbols will be assigned to different securities. The rating symbols, however, will have to be clear and definite without any ambiguity or scope for misinterpretation.
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The term 'Eurobonds' refers to bonds issued and sold outside the home country of the currency. For example, a dollar denominated bond issued in the UK is a Euro (
Coverage ratios give the relationship between the financial charges of a firm and its ability to service them. The four most commonly used coverage ratios are:
Brown has been in business for some years and has kept her drawings slightly below the level of profits each year. You are her accountant, and she has passed you the following list
The consolidated income statement for AB Group for the year ended 30 June 2010: (all amounts in the workings are in $000, unless stated otherwise)
Q. Diffrence between present values of future cash ? The difference among the present values of future cash inflows generated by an asset and its cost is known as net present v
Q. Define the Constructive Receipt? Constructive Receipt - A taxpayer is considered to have received income even though monies are not in hand, it may have been set aside or ot
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182-Day T-Bills Following the Sukhamoy Chakravarty Committee recommendations, in November, 1986, 182-day T-bills were introduced in order to develop the short-term money market
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