Why Should Bond Investors Know and Use the Indicative Credit Score (ICS)? How do investors and bond issuers benefit from ICS?
Because ICS can analyze the financial strength of bond issuers and effectively compare the risk levels (Company Rating) of all issuing companies in detail—even those that are Unrated.
Benefits of Indicative Credit Score (ICS)
- Investors. This tool helps investors understand the risks of fixed-income instruments before investing, or monitor companies they have already invested in. It is especially useful for unrated companies, providing a comparative perspective on financial ratios and ratings.
- Issuers. It helps companies understand their financial standing before issuing bonds, allowing for a Self-Evaluation before approaching formal credit rating agencies.
- Advisors / Underwriters. A tool to search and review current or historical ICS data of various companies, presented in clear report formats.
- Corporates / Businesses. Companies can use ICS data and reports to assess their financial health and identify areas for Improvement based on financial statement performance.
The Indicative Credit Score (ICS) is a system developed to measure credit ratings structurally. It combines financial statement and financial ratio analysis (Structural Rating Model) with statistical principles. The model's accuracy and precision have been thoroughly tested. The result serves as a reliable Second Opinion that reflects a company’s performance, equivalent to a corporate or company credit rating.
Program Features & Capabilities
- Current ICS: Supports ICS measurement aligned with the financial statement cycles (both annual and quarterly) of companies listed on the Stock Exchange of Thailand (SET).
- Historical ICS: Tracks and stores historical ICS data for companies listed on the SET.
- Forecast ICS: Enables the calculation of projected ICS values based on customized financial statement data.
- Non-Listed Company Support: Calculates ICS for non-listed companies. Users can instantly measure the ICS by uploading financial data via Excel or manually entering financial statements into the system.
- Indicative Credit Score Report: Generates credit score indication reports for the Current ICS of selected companies.
- Forecast Indicative Credit Score Report: Generates projected credit score reports for the Forecast ICS of selected companies.
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