What is a rating?
Rating agencies independently assess the credit quality of issuers, that is, their ability to honor their financial debts in the more or less near future. A wide spectrum of issuers can use ratings: companies, states, funds, communities, etc.
See moreMethodologies
Main methodologies
Comments related to the commercial real estate transactions rating methodology
Methodologies appendices
Requests for comments
EthiFinance Ratings (registered trademark by Qivalio SAS) is launching a request for comments for its Corporate Ratings, Short Term Ratings and Instrument Ratings methodologies, and is inviting companies, investors and other stakeholders to submit their comments and suggestions.
The Request for Comments period is starting on 1 st of July and is expected to last until mid-August. 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: rfc@ethifinance.com.
The final version is expected to be published and implemented in Q4 2022.
The proposed corporate methodology incorporates changes in the analytical factors and their respective weights. We develop further the approach to non-financial (ESG) risk factors and their impact on the credit quality of a rated entity. Also, we present further refinements and clarifications in order to provide additional transparency and clarity. Finally, a reviewed liquidity analysis process led to adjustments in the short-term rating methodology.
We anticipate that the vast majority of credit ratings will remain unchanged and for those ratings that could be impacted, the change would be limited to one notch with a slight positive bias. Estimates have been realised with a standard economic scenario that is not considering a recession in the coming 24 months. A more conservative scenario could lead to a more neutral effect on current ratings.
List of ratings (France)
Delivery Hero SE
Just Eat Takeaway.com N.V
Outokumpu
Outokumpu
Cellnex telecom
Cellnex telecom
Voltalia
Falck Renewables SpA
Financière Agache
Financière Agache
Groupe SEB
Groupe SEB
Zalando
GN Store Nord
GN Store Nord
Symrise
ANDRITZ
Bureau Veritas
Bureau Veritas
Lagardère
Lagardère
Fugro
Galp Energia
Brenntag
Prosieben
Air France - Klm
Korian
Korian
Orpea
Plastic Omnium
Plastic Omnium
Ipsos
PUMA
LDC
Ferrari
Kemira
Kemira
Sgl Carbon
Quadient
Quadient
Bekaert
L'Oréal
L'Oréal
KONE Corporation
KONE Corporation
Schindler Group
Sacyr
RTL Group
Mowi (Marine Harvest)
Nexity
Nexity
Kloeckner & CO
Pirelli
Michelin
Michelin
Safran
Safran
adidas
Valeo
Valeo
Prysmian
Neoen SA
Iliad
Iliad
Maisons Du Monde