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Credit rating
CREDIT RATING

Definitions:

i. A judgement made by a bank, etc. about how likely somebody is to pay back money that they borrow, and how safe it is to lend money to them.

ii. Your credit rating is a judgment of how likely you are to pay money back if you borrow it or buy things on credit.
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* All seven elements should be in.


1. Purposeful and necessary to have assessment.

2. Assessor or rating agency is competent to give judgment. That is, person/staff or employees is/are professionally qualified.

3. Complete and correct details or information will be provided and thoroughly examined by assessor(s), before a conclusion is reached.

4. Judgment will be based on new, current and verifiable data, not past reputation or notoriety, an insurance or pledge for the future.

5. Judgment will be that which will not be desired to be improved upon. That is, assessment earned will be justified by the prevailing economic circumstances of the person (or company, organization, etc.).

6. Consequence or outcome of rating will not cause an unplanned loss or result in a negative impact for you (or organization). That is, matters will not get worse by 'marks' given or grading 'earned'.

7. Serves purpose(s), especially if taken seriously by who is rated.
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See perfect LIKELIHOOD.

See perfect INDEBTEDNESS (2).

See perfect CREDITWORTHINESS.

See perfect REPAYMENT (1).

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