Introduction

NICE provides rating services including structured finance product rating, rating on financial investment product linked to derivative instruments, project finance loan rating, and fund credit rating.

In SF rating, credit rating is assigned after assessing probability of repayment of financial investment product or loan based on the value and cash flow of underlying assets of special purpose vehicle.

ABS, ABCP

Credit rating on ABS (asset backed securities) or ABCP (asset backed commercial paper) is assigned after evaluating risk factors that affect probability of repayment based on creditworthiness and cash flow of underlying assets and risk control measures, contributing to achieving the purpose of securitization and providing useful information to investors’ decision making process.

ABS, ABCP

Credit rating on ABL (asset backed loan) is assigned after evaluating risk factors that affect probability of repayment based on creditworthiness and cash flow of underlying assets and risk control measures, contributing to achieving the purpose of securitization and providing useful information to investors’ decision making process.

ABL

Credit rating on ABL (asset backed loan) is assigned after evaluating risk factors that affect probability of repayment based on creditworthiness and cash flow of underlying assets and risk control measures, contributing to achieving the purpose of securitization and providing useful information to investors’ decision making process.

MBS

Credit rating on MBS (mortgage backed securities) is assigned after evaluating risk factors that affect probability of repayment based on creditworthiness and cash flow of mortgage backed assets and risk control measures, contributing to achieving the purpose of securitization and providing useful information to investors’ decision making process.

Credit Derivative Linked Securities

After assessing risks to credit derivatives contract, creditworthiness of reference entity, definition of credit event, settlement method, size of recovery from deliverable obligation and others, and risks to securitization structure, credit rating is assigned to securities backed by credit derivatives and credit rating of credit linked note.

Securitization Exposure

Securitization exposure means credit exposures to a securitization transaction. Designated as Eligible External Credit Assessment Institution (ECAI) by the Financial Supervisory Service, NICE assigns appropriate credit rating to securitization exposures, aiding financial institutions to calculate risk weight of credit risk weighted assets.

Fund Credit Rating

NICE assigns fund credit rating opinions to money market and bond funds. The rating attests to the stable net asset value and credit risk of the funds.