Origin Invest Project Finance
January 2010
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Introduction to Origin Invest Methodologies
· Origin Invest publishes its project finance methodologies to give investors and potential clients an insight into
the rationale behind
our
project opinions for assessment of risk.
· In general terms, Origin Invest's opinions reflect the creditworthiness of an issuer of projects, a security
or a contractor. Origin assess an issuer's ability to make timely payments on outstanding obligations
(whether principal, interest, preferred share dividends or distributions) with respect to the terms of an
obligation.
· Origin project finance methodologies include consideration of historical and expected business and
financial risk factors as well as industry-specific issues, regional nuances and other subjective factors
and intangible considerations. Our approach incorporates a combination of both quantitative and
qualitative factors.
· The considerations outlined in Origin methodologies are not exhaustive and the relative importance of
any specific consideration can vary by issuer. In certain cases, a major strength can compensate for a
weakness and, conversely, a single weakness can override major strengths of the issuer in other areas.