CAP Ratings
We provide analytical credit assessments focused on corporate issuers, corporate bonds, debt securities and other financial instruments. Our approach is based on independence, integrity and transparency, with a focus on analytical quality and the development of capital markets in Uzbekistan and Central Asia.
Our Mission
CAP Ratings provides objective credit assessments and data-driven insights to mitigate information asymmetry. Our goal is to empower market participants with the clarity needed to evaluate credit risk accurately.
Role in the Capital Market
CAP Ratings acts as a specialized provider of credit analysis for issuers, institutional investors, and regulatory bodies. We deliver consistent, comparable credit ratings that allow diverse financial stakeholders to conduct informed due diligence and risk management based on standardized benchmarks and sectoral research.
Independence, Integrity & Transparency
Independence
Rating decisions are based on rigorous analytical frameworks and empirical evidence, free from inappropriate commercial influence.
Integrity
CAP maintains stringent ethical protocols and professional conduct during every phase.
Transparency
We provide public access to our rating criteria, methodologies, and all subsequent rating actions taken.
Analytical Methods
Our process integrates quantitative financial modeling with qualitative evaluations of corporate governance, industry position, and management strategy. We assess debt-servicing capacity by examining liquidity, leverage, and access to capital markets alongside prevailing macroeconomic trends.
Where We Operate
CAP Ratings’ primary focus is Uzbekistan, with a broader regional focus on Central Asia.
Commitment to Transparency
CAP Ratings aims to make the analytical rationale behind its assessments clear and accessible to investors and market participants.