Individual credit is scored from by credit bureaus such as Experian and TransUnion on a three-digit numerical scale using a form of Fair Isaac (FICO) credit scoring. Credit assessment and evaluation for companies and governments is generally done by a credit rating agency such as Standard & Poor’s (S&P), Moody’s, or Fitch. These rating agencies are paid by the entity that is seeking a credit rating for itself or for one of its debt issues.
- A feasibility study assesses the practicality of a proposed plan or project.
- A company may conduct a feasibility study if it’s considering launching a new business or adopting a new product line.
- It’s a good idea to have a contingency plan in case of unforeseeable circumstances, or if the original project is not feasible.