A Financial Dialogue Report may be unavailable for one of the following reasons:
The counterparty selected Summary Disclosure instead of Standard Disclosure
Two financial reporting periods have not yet been provided
Insufficient financial data is available to generate the report
The entity is a bank, diversified financial firm, or insurance company, which uses an Indicator Report instead
Why can’t I access the Financial Dialogue Report for a counterparty?
This usually happens when the counterparty has selected Summary Disclosure instead of Standard Disclosure.
With Summary Disclosure, only the FHR score and commentary are shared. The underlying financial data required to generate a Financial Dialogue Report is not included. As a result, the Financial Dialogue Report cannot be produced in this case.
To enable the report, the counterparty must switch their disclosure setting to Standard Disclosure. We recommend reaching out directly to the counterparty contact and requesting this change.
The counterparty says they selected Standard Disclosure, but I still can’t access the report. What should I do?
If Standard Disclosure is confirmed but the Financial Dialogue Report is still unavailable, it’s likely due to insufficient financial history.
To generate a Financial Dialogue Report, we require two rating periods of financial data. This means the counterparty must also provide financials for the previous fiscal year-end, in addition to the most recently submitted period.
Once both periods are available, the system will have enough historical data to generate the Financial Dialogue Report.
Why might a Financial Dialogue Report still be unavailable when Standard Disclosure is selected and two reporting periods are available?
Insufficient financial data is a common reason a Financial Dialogue Report cannot be generated.
The system evaluates 10 financial considerations when generating the report and requires at least 5 qualifying considerations to generate the Financial Dialogue report. Having Standard Disclosure selected and two reporting periods available does not necessarily mean there is sufficient data for five considerations to qualify.
Certain financial conditions or missing information can prevent individual considerations from being evaluated:
Financial Consideration | When it may not be available |
Cash Ratio | If the company has no current liabilities |
Profit Margins | Rarely prevents the report from being generated |
Interest Coverage | If the company has no interest expense, which may occur when the company has no debt |
Leverage | Rarely prevents the report from being generated |
Abnormal Items | If the company has no abnormal items |
Cash from Operations (CFO) | If CFO is not provided or the company has no current liabilities |
Working Capital | If the company has no current liabilities |
Debt Maturity | If the company has no debt |
Change in Assets | If only one year of financial data is available |
Change in Sales | If only one year of financial data is available |
Are there any cases where the Financial Dialogue Report is not available, even with sufficient data?
Yes. For certain types of entities, we are unable to generate a Financial Dialogue Report regardless of disclosure level or number of reporting periods.
Instead, we produce a specialized Indicator Report for:
Banks
Financial diversified firms
Insurance companies
These reports are tailored to reflect the unique structure of their financial statements and replace the standard Financial Dialogue output for these entity types.