A credit rating is an evaluation of an individual or companies’ ability to fulfil future financial commitments and is based on their earlier financial dealings with other companies and
Banks. A credit rating is a tool used by companies, banks and lending institutions that have been approached to supply credit or loans. A credit rating will affect how easy it is for an individual or a company to borrow money or obtain credit. It is calculated using a number of factors, including whether there are any CCJs or defaults on any of the debts.