natgillin/translations-raw huggingface dataset:
For classified Multilateral or Regional Institutions acting as guarantors, the following criteria apply:
garant je posojilno sposoben glede na velikost zajamčenega dolga,
The guarantor is legally committed for the total amount of the credit.
za garanta veljajo monetarni nadzor in transferni predpisi države, v kateri se nahaja.
The repayments are made directly to the creditor.
Za razvrščene multilateralne ali regionalne institucije, ki delujejo kot garanti, se uporabljajo naslednja merila:
If the guarantor is a subsidiary/parent of the guaranteed entity, Participants shall, on a case-by-case basis, determine whether: (1) in consideration of the relationship between the subsidiary/parent and the degree of legal commitment of the parent, the subsidiary/parent is legally and financially independent and could fulfil its payment obligations; (2) the subsidiary/parent could be affected by local events/regulations or sovereign intervention; and (3) the Head Office would in the event of a default regard itself as being liable.
garant je pravno zavezan za celotni znesek kredita,
Case 2: Guarantee Limited in Amount
vračila se plačajo neposredno upniku.
When security in the form of a repayment guarantee from an entity is provided for a limited amount at risk (i.e. principal and interest), the applicable Country Risk Classification and Buyer Risk Category may be that of the guarantor for the portion of the credit subject to the guarantee, providing that all other criteria listed under Case 1 are met.
Če je garant hčerinsko/matično podjetje zajamčenega subjekta, udeleženke za vsak primer posebej ugotovijo: (1) ali je ob upoštevanju razmerja med hčerinskim/matičnim podjetjem in stopnjo pravne obveznosti matičnega podjetja hčerinsko/matično podjetje pravno in finančno neodvisno in lahko izpolni svoje plačilne obveznosti; (2) ali lahko na hčerinsko/matično podjetje vplivajo lokalni dogodki/predpisi ali državno posredovanje ter (3) ali bi bila v primeru neizpolnjevanja obveznosti za to odgovorna glavna uprava.
For the unguaranteed portion, the applicable Country Risk Classification and Buyer Risk Category is that of the obligor.
Primer 2: Jamstvo, ki je omejeno na znesek
Classification of Multilateral or Regional Institutions
Če subjekt zagotovi zavarovanje v obliki jamstva vračila za omejen znesek tveganja (tj. glavnica in obresti), velja za razvrstitev države glede na njeno tveganje in kategorijo tveganja kupca razvrstitev garanta, in sicer za delež kredita, za katerega velja jamstvo, če so izpolnjena vsa merila iz primera 1.
Multilateral and regional institutions shall be eligible for classification if the institution is generally exempt from the monetary control and transfer regulations of the country in which it is located.
Za nezajamčen delež velja za razvrstitev države glede na njeno tveganje in kategorijo tveganja kupca razvrstitev dolžnika.
Such institutions shall be classified in Country Risk Categories 0 through 7 on a case-by-case basis according to an assessment of the risk of each on its own merits and in consideration of whether:
Razvrstitev multilateralnih ali regionalnih institucij
the institution has statutory and financial independence,
Multilateralne in regionalne institucije se lahko razvrstijo, če je institucija na splošno izvzeta iz monetarnega nadzora in transfernih predpisov države, v kateri se nahaja.
all of the institution's assets are immune from nationalisation or confiscation,
Take institucije se za vsak primer posebej razvrstijo v kategorije tveganja države od 0 do 7 v skladu z oceno tveganja vsakega primera posebej in ob upoštevanju, ali:
the institution has full freedom of transfer and conversion of funds,
je institucija zakonsko in finančno neodvisna,
the institution is not subject to government intervention in the country where it is located,
vse premoženje institucije uživa imuniteto pred podržavljenjem ali zaplembo,
the institution has tax immunity, and
ima institucija popolno svobodo glede prenosa in konverzije sredstev,
there is an obligation of all its Member countries to supply additional capital to meet the institution's obligations.
za institucijo ne velja posredovanje vlade v državi, v kateri se nahaja,
The assessment should also take into consideration the historical payment record in situations of country credit risks default either in the country where it is located or in an obligor's country; and any other factors which may be deemed appropriate in the assessment process.
institucija uživa davčno imuniteto ter
The list of classified multilateral and regional institutions is not closed and a Participant may nominate an institution for review according to the above-listed considerations.
morajo vse njene države članice zagotoviti dodatni kapital za izpolnjevanje obveznosti institucije.
The classifications of multilateral and regional institutions shall be made public by the Participants.
Pri tej oceni je treba v primerih neizpolnjevanja obveznosti kreditnih tveganj države v državi, v kateri se nahaja, ali v državi dolžnika upoštevati tudi plačilno evidenco iz preteklih let ter vse druge dejavnike, ki se med postopkom ocenjevanja zdijo primerni.
ANNEX XII
Seznam razvrščenih multilateralnih in regionalnih institucij ni zaključen, pri čemer lahko udeleženka imenuje institucijo za pregled v skladu z zgoraj navedenimi premisleki.
BUYER RISK CATEGORIES QUALITATIVE DESCRIPTIONS
Udeleženke objavijo razvrstitev multilateralnih in regionalnih organizacij.
Better than Sovereign (SOV+)
PRILOGA XII
This is an exceptional classification.
KVALITATIVNI OPISI KATEGORIJ TVEGANJA KUPCA
The entity achieving such a classification is one with an exceptionally strong credit profile which could be expected to fulfil its payment obligations during a period of sovereign debt distress or even default.
Tveganje, manjše od tveganja državnih posojilojemalcev (SOV+)
International Credit Rating Agencies issue regular reports listing Corporate and Counterparty Ratings that exceed the Sovereign's Foreign Currency Rating.
Ta razvrstitev je izjemna.
Except when the risk sovereign has been identified through the Sovereign Risk Assessment Methodology as being significantly higher than country risk, Participants proposing that an entity be classified as better than sovereign shall reference such better than sovereign ratings in support of their recommendation.
Subjekt, uvrščen v to kategorijo, ima izredno dober kreditni profil, na podlagi katerega je mogoče pričakovati, da bo v obdobju težav ali celo neizpolnjevanja obveznosti v zvezi z državnim dolgom izpolnil svoje plačilne obveznosti.
In order to be classified as better than its host sovereign, an entity would be expected to display several or normally a majority of the following characteristics or equivalents:
Mednarodne bonitetne agencije objavljajo redna poročila, v katerih so navedene bonitetne ocene gospodarskih družb in nasprotnih strank, ki presegajo državne bonitetne ocene v tuji valuti.
A strong credit profile,
Udeleženke, ki predlagajo razvrstitev subjekta v kategorijo ‚manjše tveganje od tveganja državnih posojilojemalcev‘, v podporo svojih priporočil navedejo te bonitetne ocene v zvezi z manjšim tveganjem od državnega, razen če je tveganje državnih posojilojemalcev na podlagi metodologije za oceno tveganja državnih posojilojemalcev opredeljeno kot znatno višje od tveganja države.
substantial foreign exchange earnings relative to its currency debt burden,
Za razvrstitev v kategorijo ‚manjše tveganje od tveganja države gostiteljice‘ mora za subjekt predvidoma veljati več ali običajno večina od naslednjih značilnosti ali enakovrednih značilnosti:
production facilities and cash generation ability from subsidiaries or operations offshore, especially those domiciled in highly rated sovereigns, i.e. multinational enterprises,
dober kreditni profil,
a foreign owner or a strategic partner which could be relied on as a source of financial support in the absence of a formal guarantee,
znatni prihodki v tuji valuti glede na dolg v njegovi valuti,
a history of preferential treatment of the entity by the sovereign, including exemption from transfer and convertibility constraints and surrender requirements for export proceeds, and favourable tax treatment,
proizvodne zmogljivosti in zmožnost ustvarjanja denarnih sredstev s strani hčerinskih podjetij ali na podlagi dejavnosti v tujini, zlasti tistih, ki imajo sedež v državah z visoko bonitetno oceno, tj. multinacionalne družbe,
committed credit lines from highly rated international banks, especially credit lines without a material adverse change (MAC) clause which enable banks to withdraw committed facilities in the event of a sovereign crisis or other risk events, and
tuj lastnik ali strateški partner, na katerega bi se bilo mogoče ob pomanjkanju uradnega jamstva zanesti kot na vir finančne podpore,
assets held offshore, especially liquid assets, often as a result of rules allowing exporters to trap and maintain cash balances offshore that are available for debt service.
preteklo prednostno obravnavanje subjekta s strani države, vključno z izključitvijo iz transfernih omejitev in omejitev v zvezi s konvertibilnostjo ter zahtev glede predaje v zvezi z iztržkom od izvoza, in ugodnejša davčna obravnava,
Normally the SOV+ buyer risk category is not applicable to:
potrjene kreditne linije mednarodnih bank z visoko bonitetno oceno, zlasti kreditne linije brez klavzule o bistvenem poslabšanju, ki bankam omogočajo, da v primeru krize državnega dolga ali drugih oblik tveganja prekličejo posojila, ter
Publicly owned entities and utilities, sub-sovereigns as line ministries, regional governments, etc.,
sredstva v tujini, zlasti likvidna sredstva, pogosto zagotovljena na podlagi predpisov, ki izvoznikom omogočajo, da prestrežejo in ohranijo denarna sredstva v tujini, ki so na voljo za servisiranje dolga.
financial institutions domiciled in the sovereign's jurisdiction, and
Kategorija tveganja kupca SOV+ se običajno ne uporablja za:
entities primarily selling to the domestic market in local currency.
subjekte in storitve v javni lasti, poddržavne subjekte, ki delujejo kot resorna ministrstva, regionalne vlade itd.,
Sovereign (SOV)
finančne ustanove s sedežem v pristojnosti države ter
Sovereign obligors/guarantors are entities that are explicitly legally mandated to enter into a debt payment obligation on the behalf of the Sovereign State, typically Ministry of Finance or Central bank.
subjekte, ki na domačem trgu prodajajo zlasti v lokalni valuti.
A risk designated as sovereign is one where:
Tveganje državnih posojilojemalcev (SOV)
the obligor/guarantor is legally mandated to enter into a debt payment obligation on behalf of the Sovereign and thereby commits the full faith and credit of the sovereign, and
Državni dolžniki/garanti so subjekti, ki so izrecno pravno pooblaščeni za prevzem obveznosti plačila dolga v imenu države, običajno ministrstvo za finance ali centralna banka.
in the event of rescheduling of sovereign risk, the debt in question would be included in the rescheduling and payment obligations acquired by the sovereign by virtue of the rescheduling.
Za tveganje, ki je opisano kot tveganje državnih posojilojemalcev, velja naslednje:
Equivalent to the Sovereign (CC0): Exceptionally Good Credit Quality
dolžnik/garant je pravno pooblaščen za prevzem obveznosti plačila dolga v imenu države, s čimer zagotavlja popolno zaupanje in kreditno sposobnost države, ter
The “equivalent to sovereign” category embraces two basic types of obligors/guarantors:
v primeru reprogramiranja tveganja državnih posojilojemalcev je zadevni dolg vključen v reprogramiranje in plačilne obveznosti, ki jih država pridobi z reprogramiranjem.
Public entities where due diligence reveals that either the buyer has the implicit full faith and credit/support of the sovereign or that the likelihood of sovereign liquidity and solvency support is very high, both in relation to recovery prospects as well as default risk.
Tveganje, enakovredno tveganju državnih posojilojemalcev (CC0): zelo dobra kreditna kvaliteta
Non-sovereign public entities equivalent to the sovereign would also include companies owned by the government with a monopoly or near monopoly on operations in a sector (e.g. power, oil, gas).
Kategorija tveganja, ki je ‚enakovredno tveganju državnih posojilojemalcev‘, zajema dva osnovna tipa dolžnikov/garantov:
Corporate entities with an exceptionally strong credit profile, displaying features in terms of both default and recovery prospects which indicate that the risk could be seen as being equivalent to sovereign.
javni subjekti, v zvezi s katerimi je pri skrbnem pregledu poslovanja ugotovljeno, da uživa kupec popolno zaupanje in podporo države ali da je verjetnost državne podpore likvidnosti in plačilne sposobnosti zelo velika, tako v zvezi z morebitnimi izterjavami kot tudi v zvezi s tveganjem neizpolnjevanja obveznosti.
Candidates could include strong blue chip corporates or very important banks for which the likelihood of sovereign liquidity and solvency support is high.
Nedržavni javni subjekti, enakovredni državnim, bi vključevali tudi podjetja v državni lasti z monopolom ali skorajšnjim monopolom nad dejavnostmi v sektorju (npr. energija, nafta, plin),
Exceptionally good credit quality implies that the risk of payment interruption is expected to be negligible and that the entity has an exceptionally strong capacity for repayment and this capacity is not likely to be affected by foreseeable events.
gospodarske družbe z izredno dobrim kreditnim profilom, katerih značilnosti v zvezi z morebitnim neizpolnjevanjem obveznosti in izterjavami kažejo, da je tveganje mogoče obravnavati kot enakovredno tveganju državnih posojilojemalcev.
The credit quality is typically manifested in a combination of some, if not all, of the following characteristics of the entity's business and financial profile:
V to kategorijo bi se lahko uvrstila uspešna vodilna podjetja ali zelo pomembne banke, pri katerih je verjetnost državne podpore likvidnosti in plačilne sposobnosti velika.
exceptionally good to very good cash and income generation
Zelo dobra kreditna kvaliteta pomeni, da je tveganje prekinitve plačila predvidoma zanemarljivo in da je zmožnost odplačevanja subjekta zelo velika, pri čemer na to zmožnost verjetno ne bi vplivali predvidljivi dogodki.
exceptionally good to very good liquidity levels
Kreditno kvaliteto običajno predstavlja kombinacija nekaterih (ali vseh) naslednjih značilnosti poslovnega in finančnega profila subjekta:
exceptionally low to very low leverage
izjemno dobro do zelo dobro ustvarjanje denarnih sredstev in dohodka,
excellent to very strong business profile with proven and very strong management abilities
izjemno dobre do zelo dobre ravni likvidnosti,
The entity is also characterised by a high quality of financial and ownership disclosure, unless there is a very high likelihood of support from a parent (or sovereign) with a buyer risk classification that is equal to or better than what corresponds to this buyer risk category.
izjemno nizek do zelo nizek finančni vzvod,
Depending on the classification of the country in which the obligor/guarantor is domiciled, it is likely that an obligor/guarantor classified in buyer risk category CC0 would be rated between AAA (Country Category 1) and B (Country Category 7) by accredited CRAs.
odličen do zelo dober poslovni profil z dokazanimi in zelo dobrimi zmožnostmi upravljanja.
Very Good Credit Quality (CC1)
Za subjekt je značilna tudi visoka kakovost razkritja finančnih informacij in lastništva, razen če obstaja zelo velika verjetnost podpore s strani matičnega podjetja (ali države), katerega razvrstitev glede na tveganje kupca je enaka ali boljša od zadevne kategorije tveganja kupca.
The risk of payment interruption is expected to be low or very low.
Odvisno od razvrstitve države, v kateri ima dolžnik/garant sedež, bi akreditirane bonitetne agencije dolžnika/garanta, razvrščenega v kategorijo tveganja kupca CC0, verjetno ocenile med AAA (kategorija države 1) in B (kategorija države 7).
The obligor/guarantor has a very strong capacity for repayment and this capacity is not likely to be affected by foreseeable events.
Zelo dobra kreditna kvaliteta (CC1)
The obligor/guarantor has a limited or very limited susceptibility to adverse effects of changes in circumstances and economic conditions.
Tveganje prekinitve plačil je predvidoma nizko ali zelo nizko.
The credit quality is typically manifested in a combination of some, if not all, of the following characteristics of the business and financial profile:
Zmožnost odplačevanja dolžnika/garanta je zelo velika, pri čemer na to zmožnost verjetno ne bi vplivali predvidljivi dogodki.
very good to good cash and income generation
Občutljivost dolžnika/garanta na škodljive učinke sprememb okoliščin in gospodarskih razmer je omejena ali zelo omejena.
very good to good liquidity levels
Kreditno kvaliteto običajno predstavlja kombinacija nekaterih (ali vseh) naslednjih značilnosti poslovnega in finančnega profila:
very low to low leverage
zelo dobro do dobro ustvarjanje denarnih sredstev in dohodka,
very strong business profile with proven management abilities
zelo dobre do dobre ravni likvidnosti,
Depending on the classification of the country in which the obligor/guarantor is domiciled, it is likely that an obligor/guarantor classified in buyer risk category CC1 would be rated between AAA (Country Category 1) and B (Country Category 7) by accredited CRAs.
zelo nizek do nizek finančni vzvod,
Good to Moderately Good Credit Quality, Above Average (CC2)
zelo dober poslovni profil z dokazanimi zmožnostmi upravljanja.
The risk of payment interruption is expected to be low.
Odvisno od razvrstitve države, v kateri ima dolžnik/garant sedež, bi akreditirane bonitetne agencije dolžnika/garanta, razvrščenega v kategorijo tveganja kupca CC1, verjetno ocenile med AAA (kategorija države 1) in B (kategorija države 7).
The obligor/guarantor has a good to moderately good capacity for repayment and this capacity is not likely to be affected by foreseeable events.
Dobra do zmerno dobra kreditna kvaliteta, nadpovprečna (CC2)
The obligor/guarantor has a limited susceptibility to adverse effects of changes in circumstances and economic conditions.
Tveganje prekinitve plačil je predvidoma nizko.
good to moderately good cash and income generation
Zmožnost odplačevanja dolžnika/garanta je dobra do zmerno dobra, pri čemer na to zmožnost verjetno ne bi vplivali predvidljivi dogodki.
good to moderately good liquidity levels
Občutljivost dolžnika/garanta na škodljive učinke sprememb okoliščin in gospodarskih razmer je omejena.
low to moderately low leverage
dobro do zmerno dobro ustvarjanje denarnih sredstev in dohodka,
moderately strong business profile with proven management abilities
dobre do zmerno dobre ravni likvidnosti,
Depending on the classification of the country in which the obligor/guarantor is domiciled, it is likely that an obligor/guarantor classified in buyer risk category CC2 would be rated between A+ (Country Category 1) and B- or worse (Country Category 7) by accredited CRAs.
nizek do zmerno nizek finančni vzvod,
Moderate Credit Quality, Average (CC3)
zmerno dober poslovni profil z dokazanimi zmožnostmi upravljanja.
The risk of payment interruption is expected to be moderate or moderately low.
Odvisno od razvrstitve države, v kateri ima dolžnik/garant sedež, bi akreditirane bonitetne agencije dolžnika/garanta, razvrščenega v kategorijo tveganja kupca CC2, verjetno ocenile med A+ (kategorija države 1) in B– ali slabše (kategorija države 7).
The obligor/guarantor has a moderate or moderately good capacity for repayment.
Zmerna kreditna kvaliteta, povprečna (CC3)
There is a possibility of credit risk developing as the obligor/guarantor faces major ongoing uncertainties or exposure to adverse business, financial or economic conditions which could lead to inadequate capacity to meet timely payments.
Tveganje prekinitve plačil je predvidoma zmerno ali zmerno nizko.
However, business or financial alternatives may be available to allow financial commitments to be met.
Zmožnost odplačevanja dolžnika/garanta je zmerna ali zmerno dobra.
The credit quality is typically manifested in a combination of some, if not all, of the following characteristics of the business and financial profile.
Možnost kreditnega tveganja izhaja iz soočanja dolžnika/garanta z velikimi stalnimi negotovostmi ali njegove izpostavljenosti škodljivim poslovnim, finančnim ali gospodarskim razmeram, zaradi katerih lahko postane nezmožen pravočasno izvesti plačila.
moderately good to moderate cash and income generation
Vendar so morda na voljo poslovne ali finančne alternative, ki omogočajo izpolnjevanje finančnih obveznosti.
moderately good to moderate liquidity levels
Kreditno kvaliteto običajno predstavlja kombinacija nekaterih (ali vseh) naslednjih značilnosti poslovnega in finančnega profila:
moderately low to moderate leverage
zmerno dobro do zmerno ustvarjanje denarnih sredstev in dohodka,
moderate business profile with proven management abilities
zmerno dobre do zmerne ravni likvidnosti,
The entity is also characterised by an adequate quality of financial and ownership disclosure, unless there is a very high likelihood of support from a parent (or sovereign) with a buyer risk classification that is equal to or better than what corresponds to this buyer risk category.
zmerno nizek do zmeren finančni vzvod,
Depending on the classification of the country in which the obligor/guarantor is domiciled, it is likely that an obligor/guarantor classified in buyer risk category CC3 would be rated between BBB+ (Country Category 1) and B- or worse (Country Category 6) by accredited CRAs.
zmeren poslovni profil z dokazanimi zmožnostmi upravljanja.
Moderately Weak Credit Quality, Below Average (CC4)
Za subjekt je značilna tudi zadostna kakovost razkritja finančnih informacij in lastništva, razen če obstaja zelo velika verjetnost podpore s strani matičnega podjetja (ali države), katere razvrstitev glede na tveganje kupca je enaka ali boljša od zadevne kategorije tveganja kupca.
The risk of payment interruption is expected to be moderately weak.
Odvisno od razvrstitve države, v kateri ima dolžnik/garant sedež, bi akreditirane bonitetne agencije dolžnika/garanta, razvrščenega v kategorijo tveganja kupca CC3, verjetno ocenile med BB+ (kategorija države 1) in B– ali slabše (kategorija države 6).
The obligor/guarantor has a moderate to moderately weak capacity for repayment.
Zmerno slaba kreditna kvaliteta, podpovprečna (CC4)
moderate to moderately weak cash and income generation
Tveganje prekinitve plačil je predvidoma zmerno nizko.
moderate to moderately weak liquidity levels
Zmožnost odplačevanja dolžnika/garanta je zmerna do zmerno slaba.
moderate to moderately high leverage
zmerno do zmerno slabo ustvarjanje denarnih sredstev in dohodka,
moderately weak business profile with limited track record of management abilities
zmerne do zmerno slabe ravni likvidnosti,
Depending on the classification of the country in which the obligor/guarantor is domiciled, it is likely that an obligor/guarantor classified in buyer risk category CC4 would be rated between BB+ (Country Category 1) and B- or worse (Country Category 5) by accredited CRAs.
zmeren do zmerno visok finančni vzvod,
Weak Credit Quality (CC5)
zmerno slab poslovni profil z omejenimi zmožnostmi upravljanja.
The risk of payment interruption is expected to be high to very high.
Odvisno od razvrstitve države, v kateri ima dolžnik/garant sedež, bi akreditirane bonitetne agencije dolžnika/garanta, razvrščenega v kategorijo tveganja kupca CC4, verjetno ocenile med BB+ (kategorija države 1) in B– ali slabše (kategorija države 5).
The obligor/guarantor has a moderately weak to weak capacity for repayment.
Slaba kreditna kvaliteta (CC5)
The obligor/guarantor currently has the capacity to meet repayments but a limited margin of safety remains.
Tveganje prekinitve plačil je predvidoma visoko do zelo visoko.
However, there is a likelihood of developing payment problems as the capacity for continued payment is contingent upon a sustained, favourable business and economic environment.
Zmožnost odplačevanja dolžnika/garanta je zmerno slaba do slaba.