CUFT Database

Beginning in 2009, CUFTanalytics has sourced publicly filed credit agreements from the United States Securities and Exchange Commission using its proprietary search algorithm.  The documents are reviewed, and the data is gathered and maintained in a database (the “CUFT Database”).  In addition, we add to this transactional data the most current credit risk data (Standard & Poor (S&P)’s and Moody’s Investor Services credit ratings and S&P’s Creditscores).  Finally, all data is supported by actual agreements.

The CUFT Database is built specifically for transfer pricing purposes.  CUFTanalytics uses this data for consulting purposes, however the senior loan data from the CUFT Database is licensed to Bureau van Dijk for inclusion in their transfer pricing solution, TP Catalyst.  For more details regarding subscriptions to the loan module within TP Catalyst please see their website

In general, we add upwards of 1,200 or more senior loan records to our CUFT Database each year.  The below tables provide a snapshot of our senior loan database:

 

Based on Credit Risk Measures

Avg Credit Rating Total 2019 2018 2017 2016 2015 2014 2009 - 2013
A- and above 398  66  68  44  41  49  33  97 
BBB- to BBB+ 1,728  238  252  162  196  188  183  509 
BB- to BB+ 2,503  292  348  276  248  250  221  868 
B- to B+ 2,141  158  189  276  213  149  229  927 
Below B- 193  10  19  23  30  13  18  80 
Total Rated 6,963  764  876  781  728  649  684  2,481 
Total Non Rated 5,214  555  527  472  527  519  457  2,157 
Total Records 12,177  1,319  1,403  1,253  1,255  1,168  1,141  4,638 

* Note that the average credit rating is the average between the respective Moody's credit rating and the S&P credit rating for the borrower. If the borrower is rated by just one of those rating agencies than the average rating is the rating given by the rating agency that has rated the borrower. If the ratings of the two rating agencies differ by an even number of notches it is the middle rating that is the average credit rating. If the ratings differ by an odd number of notches then the average credit rating is calculated as the upper rating less (n - 1)/2, where n is the number of notches that the credit rating agencies differ.


Based on Industry

Major Industry Group SIC codes Total 2019 2018 2017 2016 2015 2014 2009 - 2013
Agriculture, Forestry & Fishing 01 to 09 82  11  33 
Mining 10 to 14 524  47  55  40  42  45  61  234 
Construction 15 to 17 244  33  27  28  24  30  20  82 
Manufacturing 20 to 39 5,218  533  583  518  581  573  465  1,965 
Transportation, Communications, Electric, Gas & Sanitary Services 40 to 49 1,863  192  216  228  179  173  159  716 
Wholesale Trade 50 to 51 521  56  55  47  61  45  58  199 
Retail Trade 52 to 59 924  81  93  99  106  79  101  365 
Finance, Real Estate & Insurance 60 to 67 362  149  95  23  20  14  53 
Services 70 to 89 2,439  222  268  263  245  196  254  991 
Totals 12,177  1,319  1,403  1,253  1,255  1,168  1,141  4,638 

 

Did You Know?

The senior loan data from the CUFT Database is subscribed through BvD's TP Catalyst by tax administrations, multinational corporations and large and small accounting and tax consulting firms across the world spanning nearly 30 different countries.  Contact Us to learn more.

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