Undoubtedly, obtaining a credit rating is one of the paramount decisions for any company to make during its entire existence as a going concern. From that moment on, not only will its corporate status be deeply modified bringing about a number of new additional requirements to comply with. Its overall relationships with its stakeholders will no longer be the same. Even the potential decision to turn back to the prior situation by relinquishing its rating and becoming unrated again, which is perfectly possible, will have meaningful implications going forward.

This technical note is addressed to those enrolled in the Global Masters in Finance (GMIF) programs, particularly in connection with the “Introduction to the Capital Markets” subject. This paper also directly relates to all other subjects covering corporate finance and financing issues in the same program, as well as to the MBA programs and specialized finance courses.