Credit Consensus Ratings, PD curves, transition matrices, and entity-level analytics derived from the internal risk views of 40+ global banks. Updated weekly. Delivered via API, Bloomberg Terminal, Excel add-in, or flat file.
120,000+ entities across 160 countries, corporates, financials, funds, and sovereigns
~90%+ unrated by traditional credit rating agencies
40+ contributing banks, nearly half GSIBs, with $41T in total assets
Weekly updates based on ~1 million risk observations per month
130,000+ bond and loan assessments available via Bloomberg
10+ years of history back to 2015
Entity-level consensus credit ratings on a standard letter-grade scale. Each rating aggregates the anonymized views of contributing banks with direct lending exposure to that entity.
Point-in-time PD estimates at the entity level. Forward-looking, derived from banks’ own Basel-approved internal models. Supports portfolio management.
Senior unsecured LGD contributed alongside PD for each entity. Available for use in regulatory capital modeling and provisioning.
Empirical credit migration probabilities across rating categories under normal and stressed conditions. Used for Stage 2 trigger validation, term structure construction, and portfolio modeling.
Cross-entity and cross-sector correlation data for portfolio concentration analysis and SRT structuring.
1,200+ macro-level trend indicators. Forward-looking default risk analysis across geographies, industries, and sub-sectors covering rated, unrated, private, and public entities.
Security-level credit ratings on 130,000+ instruments representing $34T+ in debt. Available via Bloomberg Terminal.
Distribution of contributing views, rating trajectory, opinion change indicators, and reference data, including LEI, sector, and geography.
Regulatory Applications
Contributing banks assess entities they hold real credit exposure to. The same risk views they use for regulatory capital calculations, loan pricing, and internal portfolio management.
Rated entities do not fund their assessments. Banks contribute views on all corporate clients under contractual obligation, preventing selective submission.
Traditional agencies cover entities that issue public debt, roughly 10-30% of a typical institutional lending portfolio. This dataset covers the middle-market borrowers, private credit counterparties, and fund structures that comprise the rest.
Contributing banks adjust internal views as new information emerges. Weekly consensus updates surface deterioration months before agency rating actions, aligning with the continuous monitoring that IFRS 9 and Basel frameworks expect.
Contributing banks' internal rating models undergo supervisory examination by the Federal Reserve, ECB, PRA, and other primary regulators as part of ongoing Basel compliance. The consensus reflects the aggregated output of models that have already passed regulatory scrutiny.
Access Credit Risk Data Your Way
Supervisors across jurisdictions increasingly expect banks to validate internal credit assessments against external reference points. Consensus data provides independent benchmarking that supports PD calibration defensibility and capital efficiency under evolving Basel frameworks.
Monitor credit views on clearing members who do not have a public credit rating to enrich annual credit assessments of clearing members.
Point-in-time PD estimates and transition matrices support forward-looking expected credit loss calculations. Weekly updates address the requirement for timely identification of significant credit risk increases at each reporting date.
Compare internal assessments against peer views across syndicated credits before examination cycles. A $150B U.S. bank used consensus data specifically for SNC preparation, benchmarking internal views against peer institutions.
Consensus PDs, transition matrices, and correlation matrices support pricing and investor due diligence on significant risk transfer transactions involving unrated corporate portfolios. Credit Benchmark won SRT Service Provider of the Year 2024.
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Testimonials
Real-time portfolio monitoring with automated alerts on consensus rating changes
Drill into entity-level analytics, peer comparisons, and sector trend views
Set custom watchlists and filter by geography, industry, or rating category
Pull consensus ratings, PDs, and analytics directly into existing spreadsheets and models
Pre-built templates for common risk reporting and benchmarking workflows
Query the full dataset using a graphical filter interface without leaving Excel
Structured flat file delivery incorporating your internal identifiers and entity hierarchies
Mapped to your reference data for direct ingestion into risk systems and data warehouses
Scheduled delivery via SFTP for batch processing and automated pipelines
Enterprise-grade web services API for programmatic access
Structured data model supporting real-time queries and automated integration into in-house platforms
High-throughput delivery for institutions embedding consensus data into production credit workflows
Enterprise-grade web services API for programmatic access
Structured data model supporting real-time queries and automated integration into in-house platforms
High-throughput delivery for institutions embedding consensus data into production credit workflows
Craig Broderick (former Goldman Sachs Chief Risk Officer), Richard Berner (former Director, Office of Financial Research), Bruce Richards (Chairman of the Board of Credit Suisse Holdings, USA), and John Willian (former partner and managing director at Goldman Sachs)
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