Below we provide definitions for the five fixed income ratios that drive our Credit Ratings along with details on how our "Adjusted" ratios based on more reliable fundamental data compare to the "Traditional" ratios based on unscrubbed data.

Though legacy providers, e.g. Moody’s, S&P, and Fitch, have dominated the credit ratings industry for some time, our Credit Ratings offer these advantages:

• more coverage: ~2,700 companies vs. ~1,500 for S&P
• more frequent updates: we update all ~2,700 of our credit ratings quarterly while S&P updates ratings for ~400 companies per year
• free of conflicts of interest that continue to taint legacy ratings.

Most importantly, superior fundamental data drives material differences in our Credit Ratings and research compared to legacy firms’ research and ratings. These reports show the differences.