Merritt utilizes the Name field in CreditScope to identify the most recent audited financial statements that have been standardized into the Credit. Over the years, audit presentations have changed to accommodate entities with a corporate-type structure. For example, a Hospital credit may include affiliates, subsidiaries or related corporations. Naming the Credit to reflect the structure being standardized allows the user to quickly identify the audit presentation that Merritt used to standardize the most recent data provided.
How is a Name Change Treated?
Clients occasionally inquire about how Merritt handles credit name changes. Typically, Merritt will not show a name change until the audit that reflects the name change has been added to CreditScope and standardized. In some cases, a name change can also signal a change in the Credit's entity structure. Merritt seeks to ensure that the Name used is reflective of the entities presented in the most recent audited financial statements that have been standardized.
Does the Name Field always refer to a government or organization or are there exceptions?
- A credit Name is also used to identify the funds that have been pledged for an entity's outstanding debt. Merritt's utility credits may have specific funds used in the credit Name to allow users to easily identify the funds that have been spread into the Credit.
- The Name field provides added value to Merritt's Supplemental credits as well. In these instances, the Name field is used to identify the specific set of books or flow of funds that have been pledged for payment of the bonds.