Prytula N. Credit-rating estimation as an instrument of securities market

Thesis is devoted to the issues of development of credit-rating estimation method as an instrument of securities market. The category vehicle of rating process is analyzed. The hierarchical model of problems, related to the credit-rating estimation is built. The list of quantitative and qualitative indexes of credit-rating estimation is formed, for which measuring scales are built in accordance with the National rating scale. A candidate improved the methodical approach to a credit-rating estimation on the basis of theory of fuzzy sets, which foresees presentation of rating results in accordance with the National rating scale. Possibility of application of this approach for securities portfolio management is presented. The model of optimum securities portfolio construction is proposed on the basis of credit-rating estimation of entities-issuers.