Glossary

Credit Rating

This is an independent evaluation by a credit bureau of an organisation's ability to repay debt and meet obligations to its bondholders and other investors. The credit rating is to a large extent based on the organisation's borrowing and repayment history, and expressed as a ranking. Lenders use this information to decide whether to approve a loan. Moody’s, Standard & Poor’s and Fitch are the main three credit ratings agencies.