Summary
• Statistics introduction
• What information can I find in the statistics screen?
• How do I?
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Search statistics
Export the selection
Access CRA information
Access CRA rating scales
• What do I do if?
– No statistics are displayed
– I cannot find a specific value or a specific criteria in the filters
– Only one rating scale is displayed in the rating scale link
CEREP Help –Statistics
Statistics introduction
• The CEREP statistics screen contains rating activity indicators, default
rates and transition matrices.
• There are 2 main sections in the statistics screen:
– Data section:
• Rating activity
• Default rates
• Transition matrices
– Filter section, that allows filtering the statistics by:
• CRA
• Period
• Rating type
• Time horizon
• Industry/sector/asset- subasset class
• Geographical area
CEREP Help –Statistics
What information can I find in the statistics screen?
Statistics report
selection tab
Export
functionalities
CRA description and
methodology and
rating scales
information
Filter section
CEREP Help –Statistics
What information can I find in the statistics screen?
Rating activity
Indicator
Absolute value
Relative value
Number of
ratings
beginning of
period
Number of ratings that the CRA was rating at the beginning of the selected statistics period. N/A
These ratings determine the cohort
Number of
ratings end of
period
Number of ratings existing at the end of the selected statistics period
N/A
This indicator is not restricted to members of the cohort. All ratings existing at the end of the
period are considered, regardless whether they are members of the cohort or not
New ratings
Number of ratings reported as new ratings by the CRA during the statistics period. By Absolute value / Number
definition, new ratings are ratings that the CRA was not rating at the beginning of the of rating beginning of
statistics period
period
Withdrawals,
discontinuatio
ns
Number of ratings belonging to the cohort that the CRA withdraw during the statistics Absolute value / Number
period. Only members of the cohort (ratings existing at the beginning of the statistics of rating beginning of
period) are considered
period
Withdrawals,
due to [..]
Number of withdrawals due to reason [..] during the statistics period. Only members of the Absolute value / Number
cohort (ratings existing at the beginning of the statistics period) are considered
of
withdrawals,
discontinuations
Defaults
Number of defaults occurred during the statistics period. Only members of the cohort Absolute value / Number
(ratings existing at the beginning of the statistics period) are considered. One specific rating of rating BOP
might have multiple defaults during the statistics period.
CEREP Help –Statistics
What information can I find in the statistics screen?
Rating activity
Indicator
Absolute value
Relative value
Upgrades
Number of ratings which rating at the end of the statistics period is higher than Absolute value / Number of
the rating at the beginning of the statistics period, with regards to the rating scale ratings beginning of period
of the CRA.
Downgrades
Number of ratings which rating at the end of the statistics period is lower than the Absolute value / Number of
rating at the beginning of the statistics period, with regards to the rating scale of ratings beginning of period
the CRA.
Upgrade/downg N/A
rade ratio
Ratio between the Number of
upgrades and the Number of
downgrades as defined above.
Average number For those ratings that had an upgrade during the statistics period (as defined in Absolute value / Number of
of notches for
number of upgrades field), arithmetic average of the number of notches modified notches in the referred rating
upgrades
per upgrade (i.e. sum of all amounts and divided among the total number of scale
upgrades during the statistics period)
Average number For those ratings that had an downgrade during the statistics period (as defined in Absolute value / Number of
of notches for
number of downgrades field), arithmetic average of the number of notches notches in the referred rating
downgrades
modified per downgrade (i.e. sum of all amounts and divided among the total scale
number of downgrades)
CEREP Help –Statistics
What information can I find in the statistics screen?
Default rates
Indicator
Defaults
CEREP Help –Statistics
Absolute value
Relative value
Number of defaults per rating category occurred during the statistics period. Only members of Absolute value / Number of
the cohort (ratings existing at the beginning of the statistics period) are considered. One specific rating BOP
rating might have multiple defaults during the statistics period. The rating category corresponds
to the rating assigned by the CRA at the beginning of the statistics period
What information can I find in the statistics screen?
Transition matrices
Indicator
Transition matrix
CEREP Help –Statistics
Absolute value
Relative value
For each couple of categories in the rating scale , number of ratings belonging to a cohort that Absolute value / Number of
experienced a net change in their rating from rating a to b during the statistics period. The last rating BOP
column shows the number of withdrawals per rating category. Information is available in
absolute value (number of transitions) and percentage (transition rate)
How do I?
• Search statistics (I):
1. In order to search or filter the statistics, a filter section is available on the right of the
screen
2. The filter section is composed by a blue area, that contains all filters for which the user
has made a selection, and a grey area, with the filters for which the user has made no
selection
3. In order to change the search criteria, a user modifies the criteria, by clicking on the
different options on the filter categories. Every time the user selects or modifies a
criteria, the statistics are automatically refreshed
4. Only values for which there is data available are available in the filter selection.
Therefore, for example, if a CRA does not produce structure finance ratings, that option
is not available in the rating type filter selection, when thee CRA is selected
5. The user has the possibility of selecting a specific value, removing a value selected and
also, exclude a value of the non mandatory filter options
6. By clicking on New search, at the top of the filter section, the search is reset and all
values that were selected by the user are deselected.
CEREP Help –Statistics
How do I?
• Search ratings (II)
The following filters are available:
Criteria
Description
How do I select a
value?
How do I exclude a value ?
Agency
Credit rating agency
Period
Statistics period (start and end Select a value on the N/A
date)
drop down list
Rating type
Rating type
Select a value on the N/A
drop down list
Select a value on the N/A
drop down list
Time horizon
Time horizon of the ratings
Geographical area
Geographical
area.
Once Select a value from the
selected specific selection of available in the filter
countries is available
category.
The filter is then moved
Industry (corporate ratings)
to
the
blue
area
(selected filters) and the
Sector (sovereign ratings)
selected value is the
Asset and subasset (structure only one displayed
finance ratings)
Industry
Sector
Asset/sub asset
Vintage year
How do I remove a
selected value ?
Select a value on the N/A
drop down list
When there is no value
selected for a specific filter,
click on the cross icon next to
the specific value to exclude.
The filter is then moved to
the blue area (selected filters)
and the value is displayed
with a NOT before, indicating
that the value has been
excluded
When a specific value
is selected in a filter,
click on the red cross
icon next to it to
remove it.
The filter is moved to
the grey area (non
selected) and all values
of the filter are
available for selection.
Vintage year (structure finance
ratings)
To display statistics, the following filters are mandatory: credit rating agency, statistics period,
rating type and time horizon selection
CEREP Help –Statistics
How do I?
• Export the selection
1. There are two export options, in csv format and in pdf format
2. In order to export the statistics data, click on the corresponding icon on the top right
corner of the screen. Only statistics corresponding to the selection in the filters are
exported
• Access CRA qualitative information
1. Select a CRA and click on CRA qualitative data on the top right corner of the screen.
A pdf file with all the qualitative data of the CRA is open. The user can save or print
the file.
• Access CRA rating scales
1. Select a CRA and click on Rating scales on the top right corner of the screen. A pdf
file with all the rating scales reported by the CRA is open.
2. If the mandatory filters are selected, so that statistics are displayed in the screen, only
the rating scale corresponding to the selection is displayed.
3. The user can save or print the file.
CEREP Help –Statistics
What do I do if ?
• No statistics are displayed
1. Make sure the mandatory fields are selected.
2. Check the rating scales of the CRA to verify if there is change in rating scale during
the statistics period selected
• I can not find a specific criteria or value in the filters
1. The filters are refreshed to display only the filters for which there is data available
2. Therefore, those values or criteria for which there is no data, are not available.
• Only one rating scale is displayed in the Rating scale link
1. The system displays the rating scales according to the CRA, the time horizon, the
rating type, the BOP and the EOP. The CEREP displays the rating scale that
corresponds to the selection if all mandatory filters are selected. Otherwise, it
displays all rating scales of the CRA, as long as a CRA is selected. If the CRA is not
selected, an error is displayed when clicking on rating scale
CEREP Help –Statistics