Who we are

The Credit Research Initiative (CRI), founded in 2009 at the Risk Management Institute of National University of Singapore, is a non-profit undertaking offering credit risk measures for exchange-listed firms around the world. The CRI team has officially moved to the Asian Institute of Digital Finance of NUS since September 16, 2020. Pioneering the “public good” credit risk measures, the CRI is committed to advancing big data analytics and providing directly useful credit intelligence to academic and professional communities.

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PD & AS Global Search

The aggregate PD & AS measure the creditworthiness of a region, economy or sector. The indicator is calculated using the median PD and AS of all companies in the selected region, economy and industry. The aggregate forecast is now available for NoOfRegions geographic regions, NoOfEconomies economies, and NoOfSectors sectors/subsectors.


The Corporate Vulnerability Index (CVI) measures the creditworthiness of a selected region, economy or portfolio of interest. Three sets of indices, i.e. the equally-weighted CVI, value-weighted CVI, and the tail CVI, are now available for 25 selected groups.

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