What is credit rating?
A credit rating is a calculation of a person’s or a company’s capacity to repay a debt based on their income and repayment history. A credit rating, which is usually represented as a credit score, is one of the criteria that banks and lenders consider when deciding whether or not to lend money..A credit rating is an estimation of an individual or business element’s capacity to reimburse a monetary commitment dependent on pay and past reimbursement narratives. Typically communicated as a financial assessment, banks and moneylenders utilize a credit score as one of the components to decide if to loan cash.
