China Credit Benchmark (CRSR < GO >)Overview

CRSR <GO> provides a searchable database of over 40,000 financial, corporate, and sovereign entities with Credit Benchmark® consensus ratings, including entities unrated by major agencies, to help inform your credit risk assessment and investment decisions.

Credit Benchmark calculates consensus ratings based on contributed opinions from over 40 of the world's leading financial institutions.

Credit Benchmark provides ratings to more than 1,000 Chinese issuers globally. To search issuers with Credit Benchmark ratings, select “China” under “CB Country of Risk” in the Filters menu.

 

993 issuers with Credit Benchmark ratings are not rated by three global rating agencies. Within these 993 issuers, 908 are private issuers. To filter issuers without global ratings, check “Not Rated by S&P”, “Not Rated by Moody’s” and “Not Rated by Fitch”.

 

Next, let’s drag and drop a company ID into Security Worksheet W <GO> to analyze Credit Benchmark ratings distribution. Sorting by “Credit Benchmark Rating” in Security Worksheet, most Chinese issuers are rated BB and BBB.

 

If sorted by “Credit Benchmark Opinion Change”, 36 issuers are deteriorating and 23 issuers improving. “CB Opinion Change indicator” highlights month-on-month changes for the same set of contributions, giving a clean indication of any opinion change in the Credit Consensus Rating. “Improving” indicates that upgrades are observed in the underlying credit risk views, while “Deteriorating” indicates downgrades are observed. “Stable” indicates no change.

 

Using Suning.com as an example of deteriorating opinion. The Credit Benchmark rating was downgraded from BBB- to BB at the end of November 2019 — before SUNAPP 5 03/13/23 started to drop from 100 to 73. In this case, the Credit Benchmark rating provided an early alert for credit risk analysis and portfolio management.