y risk, business and risks associated with management. This factors if not put into consideration a business cannot repay the debt. With the factor in place, certain criteria are used to assess the credit rating process (White, 2010).
信誉，即有能力和意愿在规定的时间内全额偿还债务，一些公司由于财务限制而无法做出此类承诺。为了确定债务的及时偿还，考虑了许多因素，包括财务风险、行业风险、业务和管理相关风险。如果不考虑这一因素，企业就无法偿还债务。有了这个因素，就可以使用某些标准来评估信用评级过程。
In order for any business to repay debt, the venture should be able to generate sufficient cash to fund all its operation and still have the excess to be used for the repayment of the credit. And the most important is the ability to repay the debts in full within the stipulated time happens is what most credit rating the company’s main point of interest (Pinto, 2006).
为了让任何企业偿还债务，合资企业应该能够产生足够的现金来资助其所有运营，并且仍有多余的资金用于偿还信贷。最重要的是，在规定的时间内全额偿还债务的能力是公司最主要的信用评级。
Certain factors are use in determining the rating for businesses, these factors considered can be grouped as either qualitative or quantitative. These factors also depend on the type of business in question. Different businesses have different fundaments and management structures. The environment of operations also marks an important factor. Business can prosper quickly or perform poorly based on the area it is situated. The industry in which the company operates is also important as some industries attract more risk than others or have a varying degree of requirements to run. The extent of market dominance as it provides the positions and influence in its operations. With all these factors in place, it’s possible to determine and make a comparison between the financial and business risk (Pinto, 2006).
某些因素用于确定企业评级，这些因素可以分为定性或定量。这些因素还取决于所涉及的业务类型。不同的企业有不同的基础和管理结构。行动环境也是一个重要因素。根据所处的地区，企业可能会迅速繁荣，也可能表现不佳。公司经营的行业也很重要，因为一些行业比其他行业吸引更多的风险，或者有不同程度的运营要求。市场支配地位的程度，因为它在其运营中提供了地位和影响力。有了所有这些因素，就有可能确定并比较金融和商业风险。
Quality analysis 质量分析
The environment of operation is coupled with the company itself before rating the company. It is important to have a detailed analysis of any operating risk of the issuer which involves its internal and the external business environment. Then there is analysis to evaluate the financial risk involved. Assessing the financial risks would help to keep the potential of the firm to repay the depths.
在对公司进行评级之前，运营环境与公司本身相结合。对发行人涉及内部和外部商业环境的任何运营风险进行详细分析是很重要的。然后对所涉及的财务风险进行分析和评价。评估财务风险将有助于保持公司偿还债务的潜力。
Industry 行业
An industry in which the issuer is active determines the external factors in which the business can be successful, or it can fail to perform in. This gives the credit a platform in which it can assess the business qualitatively. The rating takes into consideration the mode of the company cycle and its volatility as it a tool for the long-term assessment of the capabilities to repay the loan or debts involved. In this case, the level of capital intensity and competitiveness make the critical business environment; It influences the rating since in most scenarios these factors impacts on the cash flow within the firm and the timely debt repayment (Pinto, 2006).
发行人活跃的行业决定了业务成功或失败的外部因素。这为信贷提供了一个可以定性评估业务的平台。该评级考虑了公司周期的模式及其波动性，作为长期评估偿还贷款或债务能力的工具。在这种情况下，资本强度和竞争力的水平决定了关键的商业环境；它影响评级，因为在大多数情况下，这些因素会影响公司内部的现金流和及时偿还债务。
To arrive at a rating, a real business profiling is conducted which involve in-depth analysis of the finances and the business itself; this profile is in conjunction with the riskiness in the particular industry. If a company operates in a relatively risky industry there a possibility of slightly lower rating irrespective its of the financial performance (Pinto, 2006).
为了得出评级，进行了真实的业务分析，其中包括对财务和业务本身的深入分析；这种情况与特定行业的风险相结合。如果一家公司在风险相对较高的行业运营，无论其财务业绩如何，评级都有可能略低。
To case study on the industry, an oilfield service company is considered. The industry involves the companies that drill, provide oil services and gas exploration. These companies do suffer if done profile do not incur financial risk, but in case it is there it’s in low level, but instead, they have the business risk. It’s characterized by the firms being hig
