Straightforward question that I am probably going to get monkey shit thrown at me for. I know that credit agencies rate a companies credit, but if a company was private how would a rating agency be able to rate the company if there is no public information about it available? Do private companies have to disclose information to credit rating agencies or if a private company wants to issue debt and wants to get rated it is up to the company itself or the party receiving the debt to determine the credit rating? Or do private companies not issue debt at all (very unlikely)? I did a quick google search to see if there was any legislation that could answer my question. I found this article https://www.forbes.com/sites/sageworks/2013/01/31… but it does not really answer my question. Any help is appreciated thanks guys!
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