Rating outlook
Fundamental analysisAn agency’s view on the likely direction of a rating over the medium term.
In plain terms
Often more informative than the letters. A negative outlook typically precedes a downgrade by months.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Fundamental analysisFailure to meet a debt obligation when it falls due.
In plain terms
Rating outlook, interest coverage and promoter pledging warn well in advance.