Request For Comments – Project Finance Rating Methodology

EthiFinance Ratings is launching a request for comments for its Project Finance Ratings methodology and is inviting market participants to submit their comments and suggestions.

The Request for Comments period is starting on 17th of March and is expected to last until mid-April. Unless specified otherwise, these comments will be considered as public. During that period, we will also reach out to rated issuers to explain the new methodologies and obtain feedback. Comments should be submitted at the following email address: The final version is expected to be published and implemented in Q2 2023.

This proposed methodology incorporates a scorecard with changes in the analytical factors and the weights given to them. We introduce an ESG analysis with selected KPIs correlated to the credit quality of the rated entity, including the integration of physical risks into credit ratings. Also, we present further refinements and clarifications in order to provide additional transparency and clarity regarding our methodology.

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