Core Insights - The report examines the credit rating frameworks of three major international rating agencies—Fitch, S&P, and Moody's—focusing on their methodologies for assessing the banking sector's creditworthiness [1][4][21] Group 1: Macroeconomic Indicators - The three rating agencies evaluate the banking sector based on macroeconomic conditions, emphasizing GDP per capita as a core indicator to assess overall wealth and development stages [21] - They also consider economic structure and resilience, focusing on the diversification of the economy to evaluate the banking sector's ability to withstand industry-specific shocks [21] - Credit expansion and leverage levels are critical, with a strong emphasis on the ratio of private sector credit to GDP as a key signal of financial risk accumulation [21] - The quality of institutional and regulatory frameworks is assessed, particularly the protection of creditor rights and corporate governance standards [21] - Agencies analyze the stability of banks' funding sources, including deposit bases and reliance on foreign capital [21] Group 2: Individual Bank Performance Indicators - Fitch emphasizes the sustainability and diversification of business models, assessing the clarity of strategic execution and the bank's risk appetite as independent evaluation dimensions [23][24] - The quality of management and corporate governance is crucial, with a focus on the management team's capabilities and the transparency of financial reporting [23] - The assessment of asset quality involves a multi-dimensional analysis of non-performing loan ratios, loan generation rates, and collateral quality [24]