Real businesses. The ratings they deserved. Here is how we got there.
These six case studies document the situations our clients faced, the approach we took, and the outcomes we delivered, across sectors, company sizes, and rating scenarios. Client identities are kept confidential. Industries and outcomes are real.
Credit Rating Under Pressure, We Helped Retain Investment-Grade Status
Cyclical seasonality made the year-end numbers look stressed. We reframed the credit story around the real trading cycle, and the company held its investment-grade rating across two consecutive review cycles.
Read the Full StoryFirst-Time Rating, Achieved Better-Than-Expected Investment-Grade Outcome
A newly incorporated infrastructure company needed at least BBB- to move its banking discussions forward, with no standalone track record. We structured the first-time rating end to end, and it secured a BBB, one notch above target.
Read the Full StoryFrom Negative Outlook to Investment-Grade Stability
Stable operations, but a Negative outlook was unsettling lenders. The issue was perception, not performance. We rebuilt the narrative around group strength and forward visibility, and the company secured a BBB (Stable), above its BBB- expectation.
Read the Full StoryFirst-Time Infrastructure Rating, Delivered Better-Than-Expected Outcome
A first-time road SPV carried a perception drag from a lower-rated sponsor. We separated the project's standalone strength with a scenario-tested cash-flow model, and it secured a BBB against a BBB- target. The parent entity later upgraded too.
Read the Full StoryFrom 'D' Rating to BBB+, A Long-Term Credit Turnaround
Downgraded to 'D' after defaults, then handed to new owners, the legacy still shadowed every assessment. Over a six-year engagement we rebuilt credibility cycle by cycle, culminating in a BBB+ in 2025.
Read the Full StoryFirst-Time Rating, Achieved A- Against BBB- Expectation
A first-time logistics issuer expected a BBB- at best, given its scale and fragmented promoter profile. We structured the cash-flow model, arranged the site visit, and closed every analytical concern, and it secured an A-, three notches above expectation.
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