Information and Rating Agency

Code of Conduct

In the course of its activities information Rating Agency Credo Line is guided by the principles contained in the Code of Conduct of the Agency. Based on the fundamental principles of the rating process, it represents a concrete and detailed set of obligatory for implementation by the Agency`s employees standards, giving guidance on how the principles of Credo Line can be implemented in practice. This Code was approved by the Board of Directors of Credo Line and concerns all company employees.

 

1. Quality of the Rating Process

  • The Agency does not use materials, which contain unreliable information, during work process and does not make conclusions based on such information.
  • Rating analysis and any rating action is based upon criteria and methodologies established by Credo line. Analysts of the Agency apply its methodology in a consistent manner.
  • Credo Line analysts use rating methodologies and criteria that are rigorous, systematic and, where possible, result in ratings that can be subjected to some form of objective validation based on historical experience.

2. Monitoring and Updating

In accordance with Credo Line’s established policies, guidelines, and procedures for surveillance, unless the client requests a rating without surveillance, once a rating is assigned the Agency monitors on an ongoing basis and updates the rating. The rating may be updated by:

  • regularly reviewing the company’s creditworthiness by clients request;
  • initiating a review of the status of the rating upon becoming aware of any information that might reasonably be expected to result in a rating action;
  • updating on a timely basis the rating, as appropriate, based on the results of regular review.

3. Integrity of the Rating Process

  • Information and Rating Agency Credo Line operates in full correspondence to Ukraine effectual legislation and current professional standards.
  • Credo Line and its employees shall not, either implicitly or explicitly, give any assurance or guarantee of a particular rating prior to the final rating decision being taken in accordance with Credo Line’s established policies and procedures.
  • The Agency uses standard terminology with the meaning intelligible for rating users and rated entities.

4. Independence and Avoidance of Conflicts of Interest

  • Credo Line and its analysts use deliberated and professional judgment to maintain both the substance and appearance of independence and objectivity. All employees shall comply with the provisions of the confidentiality policy.
  • Rating scores are based exceptionally on objective information, obtained from the rated entity and/or from official and public resources, which the Agency considers reliable. Rating assignment is a collegial decision and reflects an independent standpoint of the Agency.
  • Determination of a rating shall be influenced only by factors known to the relevant rating committee and believed by it to be relevant to such rating.

5. Transparency and Timeliness of Ratings Disclosure

  • Credo Line distributes in a timely manner its ratings actions regarding the companies it rates.
  • Credo Line Rating Agency publicly discloses its policies on ratings assignment and reports preparation.
  • The Agency publishes on its corporate website sufficient information about its procedures, methodologies, key indicators, rating scale and assumptions so that outside parties can understand how a rating was assigned by the Agency`s analysts.

6. The Treatment of Confidential Information

  • The Agency and its employees protect the safety of Confidential Information communicated to them by a company.
  • Credo Line uses Confidential Information only for purposes related to its rating activities or otherwise in accordance with any confidentiality agreements with the clients.
  • Employees of the Agency take all reasonable measures to protect all property and records belonging to or in possession of Credo Line from fraud, theft, or misuse.
  • The Agency’s employees do not have a right to make information public about rating and forecasted valuation, except for the entity gives a written permission for information publication.

7. Analyst and Employee Independence

  • The Agency uses services of qualified analysts who have considerable experience in rating sphere, ensuring high quality and timeliness of the rendered services.
  • Employees who are directly involved in the rating process shall not initiate, or participate in, discussions regarding fees or payments with any entity they rate.
  • No Credo Line employee shall participate in or otherwise influence the determination of Credo Line’s rating or rating outlook of any particular entity if the employee is somehow connected with the entity.