Corporate Credit Ratings
Ratings Upgrades and Defense • Transactions • First-time Ratings
Ratings Upgrades and Defense
Managing relationships with credit rating agencies, and maximizing ratings outcomes, is an ongoing process. Longford helps companies build and implement long-term ratings strategies to help achieve the best possible outcomes - quickly. Whether your organization is facing a possible downgrade, or has been slow to receive a deserved upgrade, Longford can help.
Transactions
Longford advises companies on the credit ratings and related capital structure implications on a broad array of capital markets transactions, from straight bond issuance to complex hybrid securities. We also advise on credit ratings for strategic initiatives, including acquisitions, spin-offs, and joint ventures. We help companies structure their deals to maximize ratings outcomes without sacrificing broader strategic and financial objectives.
First-Time Ratings
Obtaining first-time credit ratings is a complex, time intensive and arduous exercise that demands specialized advisory support. Deciding which agencies to use, understanding their analytical criteria and processes, and preparing for management presentations to the agencies are just some of the critical elements. Longford helps first-time issuers navigate the ratings process and position their companies to achieve optimal ratings outcomes.
Expanding Corporate Treasury Team Capabilities
Rating Synopsis
The critical first step in the Longford CRA process is analyzing your current and projected financial position to determine areas of strength and challenge - and provide potential credit score outcomes under different scenarios. We take your Investor Day presentations a step further.
Rating Optimization
The right spot on the rating spectrum is where your targeted leverage is supported by your operating risk profile and expected cash flows. We identify the trade-offs between the higher leverage generally associated with lower ratings (e.g., 'B' category) against the constraints that come with solid 'BB' or Investment Grade levels.
Analytical Support
Developing an analytically sound position or "case" for your "credit story" and growth plans can be quite involved and time consuming. We generate a realistic debt-capacity and liquidity review - as a crucial step in selecting funding options and the optimal rating.
Hands-On Project Support
We work with your team to not only reduce their production burden but also help fine-tune your rating agency presentation for maximum impact. We also extend your capabilities by helping to liaise with rating agencies and advocate your message.
After Your Deal
A key part of the Longford CRA relationship is support through the rating agency process from beginning to end and providing "post project" feedback.
Learn More
Unique to Longford CRA is the seamless integration of our capital structure and risk exposure analytical approaches and models. Let’s talk about how Longford can help your company.
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