DR. Peyman Molavi International Fiancee and Investment Advisor دکت پیمان مولوی مشاور ارشد تامین مالی ر سرمایه گذاری بین المللی

4. What we are talking about
• We talk about 1200 B$ investment and finance
capacity annually
• And accumula?ve 70,000 B$ capacity for finance
and investment

5. Ini?als for Interna?onal Finance
• Interna?onal Credit ra?ng
• Interna?onal Annual Reports
• Interna?onal finance instruments!

6. Interna?onal Credit Ra?ng
• What is interna?onal Credit Ra?ng?

7. Ini?als for Interna?onal Finance
• A credit rating evaluates the credit worthiness of a debtor,
especially a business (company) or a government. It is an evaluation
made by a credit rating agency of the debtor's ability to pay back the
debt and the likelihood of default.
• Credit ratings are determined by credit ratings agencies. The credit
rating represents the credit rating agency's evaluation of qualitative
and quantitative information for a company or government; including
non-public information obtained by the credit rating agencies
analysts.

8. TYPES OF RATINGS
SOVEREIGN CREDIT RATING
A sovereign credit rating is the credit rating of a sovereign entity, i.e., a national government. The sovereign
credit rating indicates the risk level of the investing environment of a country and is used by investors looking
to invest abroad. It takes political risk into account(Country risk rankings).
SHORT TERM RATING
A short-term rating is a probability factor of an individual going into default within a year. This is in contrast to
long-term rating which is evaluated over a long timeframe. In the past institutional investors preferred to
consider long-term ratings. Nowadays, short-term ratings are commonly used.
CORPORATE CREDIT RATINGS The credit rating of a corporation is a financial indicator to
potential investors of debt securities such as bonds. Credit rating is usually of a financial instrument such as a
bond, rather than the whole corporation and have letter designations such as A, B, C. The Standard & Poor's
rating scale is as follows, from excellent to poor: AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, BB+, BB,
BB-, B+, B, B-, CCC+, CCC, CCC-, CC, C, D. Anything lower than a BBB- rating is considered a speculative
or junk bond.

9. WHAT EXACTLY DO THE CREDIT RATINGS MEAN?

10. WHAT EXACTLY DO THE CREDIT RATINGS
MEAN?

11. WHAT EXACTLY DO THE CREDIT RATINGS MEAN?

12. Benefits of Credit ra?ng

13. Credit Ra?ng Benefits to Investors
1. Helps in Investment Decision : Credit rating gives an idea to the investors about the credibility of the issuer
company, and the risk factor attached to a particular instrument. So the investors can decide whether to invest in
such companies or not. Higher the rating, the more will be the willingness to invest in these instruments and visa-
versa.
2. Benefits of Rating Reviews : The rating agency regularly reviews the rating given to a particular instrument. So,
the present investors can decide whether to keep the instrument or to sell it. For e.g. if the instrument is
downgraded, then the investor may decide to sell it and if the rating is maintained or upgraded, he may decide to
keep the instrument until the next rating or maturity.
3. Assurance of Safety : High credit rating gives assurance to the investors about the safety of the instrument and
minimum risk of bankruptcy. The companies which get a high rating for their instruments, will try to
maintain healthy financial discipline. This will protect them from bankruptcy. So the investors will be safe
4. Easy Understandability of Investment Proposal : The rating agencies gives rating symbols to the instrument,
which can be easily understood by investors. This helps them to understand the investment proposal of an issuer
company. For e.g. AAA (Triple A), given by CRISIL for debentures ensures highest safety, whereas debentures
rated D are in default or expect to default on maturity.
5. Choice of Instruments : Credit rating enables an investor to select a particular instrument from many alternatives
available. This choice depends upon the safety or risk of the instrument.
6. Saves Investor's Time and Effort : Credit ratings enable an investor to his save time and effort in analyzing the
financial strength of an issuer company. This is because the investor can depend on the rating done by
professional rating agency, in order to take an investment decision. He need not waste his time and effort to
collect and analyse the financial information about the credit standing of the issuer company.

14. Credit Ra?ng Benefits to Investors
1. Improves Corporate Image : Credit rating helps to improve the corporate image of a company.
High credit rating creates confidence and trust in the minds of the investors about the company. Therefore, the
company enjoys a good corporate image in the market.
2. Lowers Cost of Borrowing : Companies that have high credit rating for their debt instruments will get funds at
lower costs from the market. High rating will enable the company to offer low interest rates on fixed deposits,
debentures and other debt securities. The investors will accept low interest rates because they prefer low risk
instruments. A company with high rating for its instruments can reduce the cost of public issue to raise funds,
because it need not spend heavily on advertising for attracting investors.
3. Wider Audience for Borrowing : A company with high rating for its instruments can get a wider audience for
borrowing. It can approach financial institutions, banks, investing companies. This is because the credit ratings
are easily understood not only by the financial institutions and banks, but also by the general public.
4. Good for Non-Popular Companies : Credit rating is beneficial to the non-popular companies, such as closely-
held companies. If the credit rating is good, the public will invest in these companies, even if they do not know
these companies.
5. Act as a Marketing Tool : Credit rating not only helps to develop a good image of the company among the
investors, but also among the customers, dealers, suppliers, etc. High credit rating can act as a marketing tool to
develop confidence in the minds of customers, dealer, suppliers, etc.
6. Helps in Growth and Expansion : Credit rating enables a company to grow and expand. This is because
better credit rating will enable a company to get finance easily for growth and expansion

15. Iran Credit Rate?
CCC
B-

16. Impact of ra?ng to the interest rate

17. Countries by Credit Ra?ng

18. Interna?onal Annual Reports

19. Important issues in
Interna?onal Annual Reports
1. It is not catalog!
2. Its not good place to show off and over estimates
3. Right place for your investment prospects
4. Right place for introduce your Business strategies
5. Right place for your finance inquiries
6. Best place for self financial analysis
7. Right place to show the code of conducts

20. New finance instruments aJer the sanc?on for Iran Mine and
Mining industry
Interna?onal
Finance
AJer the
sanc?on
Capital
Market
Money
Market
Banks
Long term Finance
Mid term
Short term

21. Did you think to IPO your company in to the
interna?onal capital markets?

22. Did you think about issuance
of Interna?onal Bonds?
• Interna?onal Corporate bonds
• Interna?onal Islamic Sukuk
• Interna?onal ver?cal bonds
• Interna?onal junk bonds

23. Did you think about Fund
financing solu?ons?
1. Special Investment Fund SIF
2. Private Equity funds PEF
3. ETFs