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NIRI's IRQ
About the Publication:
Quarterly publications of the National Investor Relations Institute.
Dedicated to creating a forum to document developments of both theoretical and practical
nature that affect the way corporate executives communicate with the investment community.
Editorial provides case studies and conversations with IR practitioners to discuss the
challenges of setting up IR programs. For more information and subscription
click here.
Articles By Hank Boerner:
(Click title or cover for PDF of full Article.
For more information about PDF's,
click here.)
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Perspectives on IR: In the Know - Perspectives on Ratings: Scoring Corporate Governance
(May 2003, Volume 5, Number 4)
Lead Paragraph:Investor relations officers usually focus on
their companies' equities and are not often involved in the credit rating process. They view
the debt markets as the province of the corporate treasurer and others, because credit ratings
are intended for use in debtor or fixed-income markets. Traditional credit ratings -- more
accurately, credit risk profiles -- are important tools for both private and publicly owned
corporations. The rating assigned by an independent, objective agency is required for access
to the debt markets and determines cost of funds. A Standard & Poor's, Moody's, or Fitch
rating will be necessary at some point in the growth cycle of every business.
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Perspectives on IR: In the Know - Perspectives on Ratings: Scoring Corporate Governance
(August 2002, Volume 5, Number 2)
Lead Paragraph:What is your company's beta P/E? Corporate
Governance Quotient? The collection of shorthand metrics which investors and the broader
financial community rate and rank public companies is expanding by one -- The Corporate
Governance Quotient determined and assigned by Institutional Shareholder services. The
Corporate Governance Quotient represents a serious attempt to develop an objective,
standardized process to help institutional investors rate the quality of U.S. corporate
boards and corporations' governance practices. The initial rating system covers the R
ussell 3000 companies. Its universe gradually will expand to include up to 9500 U.S.
publicly traded companies.
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