A credit rating is a system that some organisations use to judge how likely it is individuals or businesses will be given credit by a lender. The terms 'credit rating' and 'credit score' are often used interchangeably, but there can be differences. For example, your Equifax Credit Score will be specific number based on a fixed scale and reflects your recent credit history. A credit score is a tool used by lenders to help determine whether you qualify for a particular credit card, loan, mortgage or service. Using the information on your credit report and any additional information you supplied as part of your application, lenders use a mathematical model to calculate a numerical score that represents your credit history. For credit ratings that are derived exclusively from an existing credit rating of a program, series, category/class of debt, support provider or primary rated entity, or that replace a previously assigned provisional rating at the same rating level, Moody’s publishes a rating announcement on that series, category/class of debt or program as a whole