Rating
RIXML 2.5 Element
Optional element for security ratings with required rating attribute from RatingEnum and optional ratingAction for change indication. Contains required RatingEntity child and optional PublisherDefinedValue.
This is information regarding ratings. These can be about the issuer of a security or a security itself, an industry, a country, or other entities.
Usage
Optional element within Security, can appear zero or more times. Must have rating attribute, optional ratingAction attribute. Must contain RatingEntity child element.
Business Context
Critical for investment decision support, providing analyst opinions and recommendation changes that guide investment professionals in security evaluation and portfolio decisions.
Where It Fits
Canonical Path
Children
Definition
| Type | |
| Namespace | http://www.rixml.org/2017/9/RIXML |
| Min Occurs | 1 |
| Max Occurs | 1 |
Attributes
timeFrameTermEnum |
This is the period for which the rating is relevant, as of the date it was established by the authoring entity. optionalSince 2.1 |
priorCurrentPriorCurrentTypeEnum |
Used to indicate whether the rating is current or prior (current is the default). Prior is only used to give reference for a change from a prior rating. Prior is used to indicate what the prior figure was for the period specified in order to give context to the current figure, not to provide the figure for a prior time period. optionalSince 2.1 |
relationshipRatingRelationshipEnum |
Provides a context for the rating. optionalSince 2.1 |
volatileYesNoEnum |
Indicates the volatility of the rated entity. optionalSince 2.1 |
volatilityRiskRatingVolatilityRiskEnum |
An indication of the potential price fluctuation of the rated entity. optionalSince 2.1 |
ratingRatingEnum |
The actual rating as issued by the authoring entity. requiredSince 2.1 |
ratingDateTimedateTime |
Permits tagging a rating with the publication date/time, in case it differs from the publicaton date/time of the research payload. It is expressed using ISO 8601 as refined by the World Wide Web Consortium's note http://www.w3.org/TR/NOTE-datetime. In addition, RIXML requires the use of Zulu time or Z-time (GMT +/- n hours:minute:seconds). All times are absolute and easier to compute, rather than using a relative (i.e. 08:30 +5) time. optionalSince 2.4 |
ratingTypeRatingTypeEnum |
Permits tagging a rating with an additional type that provides more information about the meaning behind the rating. optionalSince 2.4 |
aspectRatingAspectEnum |
Permits tagging a rating with the aspect of the rated entity addressed by the rating itself. optionalSince 2.4 |
ratingActionRatingActionEnum |
Highlights an action taken by the publisher. Indicates that the publisher is changing their rating on a Security. Example: a publisher downgrades Security ABC. optionalSince 2.1 |
Children
PublisherDefinedValuestring0..1 |
Used when the rating value is PublisherDefined. optionalSince 2.1 |
RatingEntity(complex)1..1 |
requiredSince 2.1 |
Descriptionstring0..1 |
A description of the rating. May include time horizon. optionalSince 2.1 |
Example
<Rating rating="Value">
<RatingEntity> ... </RatingEntity>
</Rating>Version History
ratingDateTime, ratingType, aspectBusiness Rules
Design Decisions
Level One excludes Rating, FinancialDates, SectorIndustry, Weighting, and ResourceLink elements as children of Issuer
To simplify Level One implementations by removing complex financial and analytical data from issuer descriptions
RIXML Level One Addendum v2.5, p.12
Rating elements are not permitted within Country elements in Level One
To reduce complexity compared to the full schema while maintaining core functionality for basic country classification
RIXML Level One Addendum v2.5, p.20
Rating elements are not permitted within Region elements in Level One
To reduce complexity compared to the full schema while maintaining core functionality for basic region classification
RIXML Level One Addendum v2.5, p.20
The ratingAction attribute was positioned within the Rating element itself rather than the enclosing rated entity to support multiple independent rating actions
This design allows entities to have multiple ratings with different actions, such as upgrading a credit rating while maintaining an investment rating, providing more granular action tracking
RIXML Research Data Dictionary v2.5.1, p.66
Rating represents the author's current opinion about a security, sector, industry, issuer, country, or region
This establishes a clear distinction between static opinion and dynamic changes, enabling proper categorization of investment guidance
RIXML Research Data Dictionary v2.5.1, p.19
Rating action should describe changes or restatements of ratings, not the ratings themselves
This separation allows tracking of rating changes and confirmations distinct from the actual rating values, supporting investment decision workflows
RIXML Research Data Dictionary v2.5.1, p.19
Semantic Relationships
Contrasts With1 relationship
Rating represents the author's current opinion while rating action describes changes or restatements of that opinion such as upgrades or downgrades
RIXML Research Data Dictionary v2.5.1, p.19— Rating versus Rating Action versus Weighting Action
Qualifies1 relationship
Prior rating values are used only to provide reference context for changes from previous ratings, not to report historical period ratings
RIXML Research Data Dictionary v2.5.1, p.65— Elements and Attributes
Replaces1 relationship
The ratingAction attribute within the Rating element is the preferred location for rating action specifiers, allowing multiple ratings to have independent actions
RIXML Research Data Dictionary v2.5.1, p.66— Elements and Attributes
Triggers Action1 relationship
Research reports making investment recommendations must update or establish security ratings and opinions
RIXML Research Data Dictionary v2.5.1, p.131— Recommendations
Constrains1 relationship
The Rating element must contain a single RatingEntity element
RIXML Level One Addendum v2.5, p.16— Research.Product.Context.IssuerDetails.Issuer.SecurityDetails.Security.Rating.RatingEntity
Requires1 relationship
When the rating attribute has a value of PublisherDefined, the PublisherDefinedValue element is necessary to hold the off-list entry
RIXML Level One Addendum v2.5, p.16— Research.Product.Context.IssuerDetails.Issuer.SecurityDetails.Security.Rating.PublisherDefinedValue
Blocks Action2 relationships
Level One specification prohibits Country elements from containing Rating child elements
RIXML Level One Addendum v2.5, p.20— Research.Product.Context.ProductClassifications.Country
Level One specification prohibits Region elements from containing Rating child elements
RIXML Level One Addendum v2.5, p.20— Research.Product.Context.ProductClassifications.Region