VIS Rating Process

Issuer / Client
VIS
ISSUER / CLIENT
1
Signs agreement for an initial rating
2
Submits preliminary information materials
VIS
3
Conducts a preliminary study
4
Submits a detailed questionnaire to the issuer / client
ISSUER / CLIENT
5
Provides detailed information in response to detailed questionnaire
4 – 5 Weeks
VIS
6
Conducts pre due diligence meeting analysis
7
Conducts due diligence meetings
VIS
8
Conducts post due diligence analysis
9
Internally reviewed and a brief is shared with Rating Committee
10
Rating Committee convenes and decides the preliminary / initial rating
11
Discusses the rating rationales and rating issues with client
12
Notifies issuer of the preliminary / initial rating, deliberates on appeals by client, if any
ISSUER / CLIENT
13
Consents to release of preliminary / initial rating to the public in case of non-mandatory ratings
VIS
14
Releases the preliminary / initial rating to the press
2 – 3 Weeks