Scoring

Before an Issuer can prepare and offer bonds on the primary market, they must undergo a formal financial scoring evaluation. This score determines the company's financial health, assigns a risk grade, and establishes a baseline for future bond parameters (such as the coupon rate offered to investors).

Related User Journey

You can see how this process looks here: Scoring Evaluation.

Business Rules

1. Prerequisite: The company must be verified (KYC/KYB completed).
2. Documents: The issuer must upload supporting documentation, such as a comprehensive business plan and up-to-date financial statements.
3. Immutability: Scoring events are immutable audit records.
4. Validity: A new scoring can be requested periodically, and scores have a specific expiration date (typically valid for 6-24 months).
5. Scoring Grades: The platform recognizes the following grades indicating the probability of default:
   • A: Very low probability of default
   • B: Low probability of default
   • C: Medium probability of default
   • D: High probability of default
   • E: Very high probability of default

TODO: The exact algorithmic mapping of the "Probability of Default" percentage (e.g., 1.00%) to the standardized ScoringGrade (A-E) could not be found explicitly in the current codebase. It is either handled manually by the Validator (Risk Analyst) or evaluated in an external service.

Scoring Workflow

Because the platform utilizes DLT infrastructure to ensure data immutability and trust, the creation process is split into two phases:

• Synchronous Phase: Relational scoring data is saved off-chain.
• Asynchronous Phase: A background job (managed by JobRunnr) provisions and anchors the scoring record on the blockchain.