Credit/fixed income research looks at the likelihood that an issuer will be able to meet financial obligations, including debt payments. They often review the issuer's financial history and determine whether market conditions will be conducive to repayment. This work is done to justify a credit rating supplied by one of the three major ratings agencies, Moody's, S&P and Fitch. Equity research is focused on analyzing financial data and trends for a company. An analyst reviews public records of businesses in order to predict the company's future financial needs. Their report is focused on company finances and describes the business's investment potential by assigning analyst's opinions, such as buy, sell, hold, etc.