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Credit rating definition
A credit rating estimates the ability of a borrower to meet their financial commitments based on previous performance.
Credit rating definition
A credit rating estimates the ability of a borrower to meet their financial commitments based on previous performance.
It’s a measure of creditworthiness and can be assigned to anyone who borrows money, including individuals, businesses, local authorities and sovereign governments.
Ratings for institutions and governments are usually done by credit rating agencies.