Credit research Methodology
Investors were asked to rate analysts and teams for the categories indicated. The credit research houses themselves nominated teams. Scores were given in the ratio 5:4:3:2:1 for first, second, third, fourth and fifth place nominations respectively.
Scores were weighted as follows to take into account the size of funds under management dedicated to credit research or volume of secondary turnover.
Greater than €10 billion – weighted by factor of 7
Between €5 billion and €10 billion – weighted by a factor of 5
Between €1 billion and €5 billion – weighted by a factor of 3
No estimate provided, or less than €1 billion – no weighting
Greater than €450 million – weighted by a factor of 3
Between €150 million and €450 million – by a factor of 2
No estimate provided, or less than €150 million – no weighting
Other Credit – Emerging market/western Europe
Greater than €1 billion – weighted by a factor of 4
Between €500 million and €1 billion – by a factor of 3
Between €250 million and €500 million – by a factor of 2
Between €100 million and €250 million – no weighting
Asset-backed: weighted as for Investment grade
Indices: weighted as for Investment grade
Credit derivatives: weighted as for Investment grade
Multiple votes from the same institution were scored by pro-rating that institution's total weighting among its voters according to the assets they controlled.