Managing the Credit Rating Process During a Major Acquisition

This article sets out an approach for dealing with the rating agencies and the process for evaluating the potential impact on a company's credit rating. Although the focus is on acquisitions, the main messages also apply to other major events that companies may initiate such as disposals, changes in business or geographical mix, and changes in capital structure.

This article applies to companies that have at least one 'solicited' public credit rating for which they pay a fee to a rating agency, supply it with information during regular meetings and calls, and have a confidentiality agreement in place.

Key Points

  • Communication process
  • Before the public announcement of an acquisition
  • After the acquisition has been announced before completion
  • After completion of the acquisition
  • Potential impact on credit ratings
  • Ratings Evaluation Service (RES)/Ratings Assessment Service (RAS)
  • Information for the rating agency (whether RES/RAS used or not)
  • Project Management


Written by

Gurdip Dhami

Treasury Consultant



无限中文案例研究 (71 articles)