A firm has a choice between borrowing money from a bank versus issuing public bonds for the same amount. Give an example of one item (a ratio or a number, or any other quantitative item but not something like a feeling or impression) that will be part of the credit analysis:
done by the rating agency for the bond issue but not the bank
done by the bank but, for the most part, not the rating agency.
Explain how each item is important for one party but not the other given that both are considering the same loan (in terms of amount of money, length of time, borrowing firm).