Credit rating is a measure of a person's creditworthiness, or their likelihood of repaying a debt. Credit ratings are assigned by credit rating agencies, which are companies that specialize in evaluating the creditworthiness of individuals, businesses, and governments. Credit ratings are typically based on a variety of factors, such as a person's credit history, income, and debt level. Credit ratings can range from "excellent" to "poor," and they are used by lenders and other financial institutions to determine the risk of lending money or extending credit to a borrower.
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