The Rating Process

by Credit Policy Group of Fitch Ratings

July 2006

Abstract: Fitch has standardised procedures for the preparation of ratings and the conduct of rating committees. This report summarises the typical rating process for the majority of Fitch's traditional international scale credit ratings - procedures may vary including, for example, for the assignment of model-based quantitative ratings as well as asset manager, fund, servicer, operational risk or similar non-credit ratings.

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