FACTORS FOR SUCCESS OF A RATING SYSTEM :

– Credible and independent structure and procedures;

– Objectivity and impartiality of opinions;

– Analytical research, integrity and consistency;

– Professionalism and industry related expertise;

– Confidentiality;

– Timeliness of rating review and announcement of changes;

Ability to reach wide range of investors by means of press reports, print or electronic media and investor oriented
research services.