Document Title: Corporate Rating Methodology
Publishing Date: 26-04-2023
Response Deadline: 26-05-2023

The corporate rating methodology is intended to provide a guideline for the analytical steps involved in the relative ranking of issuers in the market. To achieve this, SAR will assign a score to each relevant variable detailed in this methodology, as well as in the industry- specific methodology applicable to each rated entity as a measure of the risk assessed for that variable. In each case, the variable that is assessed and scored as part of the rating process is considered a relevant attribute of the issuer that can provide a relative indication of their ability to repay their debt obligations. The analytical team will rely on publicly available information together with detailed insights provided by the rated entity, making adjustments where necessary. This will include but is not limited to the annual financial statements, budgets, verbal representations, and regulatory submissions. SAR reserves the right to determine whether the amount of information at its disposal is sufficient to conduct an analysis and assign a credit rating.

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