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 Vontobel credit research uses a so called scoring model. This rating model is an integral part of
the rating process. We distinguish between a company's financial profile, its business profile and event risks. These three valuation criteria are broken down into key factors.
With regard to the financial profile, for instance, these include profitability or cash flow.
In order to evaluate all risk-relevant aspects, these key factors are then subdivided into sub-factors 1 to n. Each sub-factor is assigned a numeric value and weighting (score).
The weighting of the sub-factors within an industry are basically congruent. The sum of the weightings corresponds to 100% or 1. The sum of all weighted scores then results in a
total score.
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