Cbonds Page: NUS Credit Research Initiative

The Credit Research Initiative (CRI) is a non-profit undertaking initially launched at the Risk Management Institute, and now under the newly established Asian Institute of Digital Finance at NUS. The CRI seeks to promote research and development in the critical area of credit risk. The foundation of the CRI is the probability of default (PD) model that has been developed using the database of over 70,000 listed firms in Asia-Pacific, North America, Europe, Latin America, the Middle East and Africa. The output of CRI’s PD model are available on https://nuscri.org/en/, including daily updated PDs for individual firms in the aforementioned regions and aggregated PDs for different economies and sectors. The CRI family of Corporate Vulnerability Indices (CVIs) are derived from firm-specific CRI PDs. This non-profit initiative was conceptualized by Professor Jin-Chuan Duan in March 2009. It takes a “public good” approach to credit rating with the goal of keeping the PD model current, evolutionary and organic, and functions like a “selective Wikipedia”. .