Introduction
Welcome to our flagship offering. You'll know it as AIR Intelligence. It is a re-architecture of how credit risk gets assessed, and it will change how every company handles credit risk.
The AIR platform produces an explainable, real-time view of credit risk for any company. That includes public and private borrowers. That includes domestic and foreign issuers. That includes companies whose last audited statement is twelve months stale. The system does not wait for clean financials to form a view, because the world has moved past the point where waiting is acceptable.
We built AIR because our customers asked us to. They told us the modern credit book had outgrown the available credit toolkit, and that they were carrying real exposure to names they could not see. They were right. This is our answer.
01
What credit looks like today
The infrastructure of credit was built for a different era. A small set of issuers, most of them public, filing on a regular cadence, in a single language, audited under a single regime. Ratings agencies opined on those issuers a few times a year. The rest of the market made do with relationships, intuition, and lag.
That world is gone.
The fastest growing segments of credit are private, cross border, and information thin. Direct lending portfolios now sit on hundreds of borrowers that may never file with a regulator. Energy and industrial counterparty books span jurisdictions where local press, court records, and regulatory disclosures are the only signal that matters. Asset managers running global mandates are underwriting in markets where the local language is the primary language of business. Across all of it, the gap between what can be measured and what is being lent against has widened every year.
The cost of that gap is not abstract. Defaults that surprise. Exposures that compound. Workouts that begin months after the warning signs were already public, just not in a form anyone was reading.
02
What Is AIR
Underneath the platform sits an institutional grade AI and ML system that learns and predicts daily. The brain and beating heart of AIR is the ML system designed to support continuously monitored, systematically calibrated assessment of relative corporate credit risk. The framework combines machine learning-driven relative-risk estimation, market-implied deterioration signals, governed rating calibration, and recurring retraining procedures.
AIR wraps this credit model with capabilities designed to drive efficiency and become the backbone of your view of credit risk. It is built around four pillars:
i
Rigorous credit analysis built by experts
A credit engine designed and stewarded by senior credit researchers, with explainable outputs and a methodology you can defend in committee.
ii
Grounded AIR Agent
An agent tethered to credit expertise, generating analyst-ready outputs that stay inside the guardrails of the underlying model.
iii
Robust connectivity
AIR lives where the work happens — in your LLM ecosystem, your API stack, your spreadsheets and memos.
iv
Seamless data controls
Make data work for you. Ingest, edit, and govern financials and documents with full transparency.
03a
The future of credit analysis
Updated Daily View of Every Company
Every name in your portfolio is reassessed continuously. Stale financials are no longer a barrier to a current view of risk. If something has changed, the system tells you the day it changed, not the next quarter.
This capability will change the pace and level of discourse at every company. The names that used to slip past these exercises — smaller positions, harder to model borrowers, foreign issuers — now get the same scrutiny as the top of the book.
Figure 01
Median lead time on rating downgrades
Across observed downgrades, AIR signals deterioration a median of eleven months before the agencies act. Legacy ratings, by contrast, move on a cadence that does not reliably precede the event.
Figure 02
AIR detects early warning signals for ~75% of downgrade events
0%
Across a representative sample of rating downgrades, AIR surfaced early warning signals on roughly three out of every four events ahead of the agencies. The remainder is headroom we will continue to close as the platform learns.
Private and Public Coverage
AIR's credit risk score is computed for private and public companies using the same underlying methodology so you have consistent, repeatable results. Using financials up to 12 months old and daily market behavior, AIR generates robust risk scores to help you rank and determine the risk of your counterparty or credit exposures.
Explainability
Despite being a sophisticated solution based on decades of combined team experience in machine learning and credit, the AIR Risk Score is explainable to ensure you and your stakeholders understand what is driving the decision making. This gives you the confidence to trust and leverage the AIR Risk Score across your credit decisioning solutions.
03b
AIR Agent — Using AI tethered to credit expertise
It Explains Itself
The same language layer that reads the world also generates analyst ready outputs: credit memos, scenario analysis, peer comparisons, exposure drilldowns. Workflows that used to take days resolve in seconds. The analyst stays in the loop. The platform does the synthesis.
Scenario analysis at portfolio scale
Credit teams have always done scenario analysis. AIR changes what kinds of questions you can ask, and how many names you can ask them across at once. The result is qualitative scenario analysis at a scale that has not previously existed in the industry.
Quantitative scenarios are familiar. Rate shocks. FX moves. Spread widening. The tools to run them have existed for years.
Qualitative scenarios are different. Which of my software borrowers face revenue compression as AI native entrants disrupt their core market, and what does that mean across my BSL portfolios. What happens to my book if a 50 percent tariff hits Mexican imports. Which of my borrowers depend on rare earths sourced from a single jurisdiction. How does a regulatory change in one market cascade through customers in another. These are the questions credit officers actually ask in the room. They have historically been answered the slow way — an analyst working name by name, sometimes over weeks. By the time the answer arrived, the question had moved.
AIR runs these scenarios across an entire portfolio in seconds. You ask the question once. The platform reads what every borrower does, from AIR curated information. We identify where they operate, who they sell to, who they buy from, and reasons about how the scenario propagates from our quantitative projection engine. Every name. Every dependency. The output comes back ranked, sourced, and ready for committee.
This capability will change the pace and level of discourse at every company
03c
AIR, where the work happens
Intuitive User Interface
We sat with credit officers, portfolio managers, and risk teams. We watched the actual work get done. Every screen in the new platform is built around a question a credit professional already asks:
- What is moving against me and why.
- What changed this week. Who else in my book looks like this.
The platform leads with the answer.
AIR without Borders
Why wait? You can now activate AIR in virtually every LLM ecosystem you use — Claude, Copilot, ChatGPT, Gemini, and more. Our new MCP server plugs directly into your existing stack, putting elite intelligence at your fingertips without ever leaving your primary workspace.
API Integrations
AIR is a cutting edge solution designed to work with your existing tech stack. Our API allows you to pull in our AIR Risk Score, AIR Implied Rating, explanations and more directly into your existing solutions, ensuring our intelligence is being surfaced where your team members already are.
Legacy Office Tools
Credit work does not live in one tool. It lives in Excel models, Word memos, and the back and forth between them. AIR ships as native add ins for both. Pull a current view of any borrower into a model. Generate a credit memo in the document you are already writing. Run a scenario without leaving the spreadsheet. The platform meets the analyst in the surfaces they already use, with the same engine, the same data, and the same answers as the web app.
Available on
03d
Data Your Way
Thousands of companies out of the box
AIR comes loaded with thousands of companies to supercharge your analysis. Build portfolios, analyze single names without having to provide any information. Data is sourced from regulatory filings, market data, and updated daily to ensure an up-to-date view of credit across every sector.
Ingest your financial data
We heard you: data entry should be invisible. We have obliterated the barriers to entry. Stop translating templates and start acting. Directly ingest financials from Bloomberg, Octus/Findox and other systems with zero friction. Whether it is a complex PDF or a direct system export, AIR handles the heavy lifting so you do not have to.
Plus, gain absolute transparency with the ability to view and edit financials directly within our sleek UI. Your data, your rules, your results.
Upload documents and interact with them
AIR doesn't just deal with financials. Upload information about your exposures and counterparties to begin asking questions of your documents using AIR Agent, or extract financials from PDFs to leverage AIR Risk Scores in seconds.
04
Why now
Two forces meet in this release. The first is that credit markets have globalized faster than the infrastructure that monitors them. The second is that AI has, in the last eighteen months, become genuinely capable of reading the world the way a senior credit analyst reads it. Across documents. Across languages. Across signals that do not sit in a clean tabular feed. AIR is what happens when a domain specific risk engine that was already operating at institutional scale gets paired with that capability.
This is the moment the legacy ratings model stopped being adequate. Issuer paid, periodic, English first, public issuer centric. That was a product designed for the credit market of half a century ago. The credit market of today needs something different. We have built it.
05
Who AIR is for
AIR was built for the institutions that move global credit. Banks and financial institutions running wholesale, counterparty, and portfolio credit at scale. Hedge funds looking for alpha in credit deterioration signals. Pension funds with long duration oversight responsibilities. Sovereigns and central banks watching systemic risk across the broader market. Private credit shops, direct lenders, CLO managers, and BDCs needing the same rigor for origination diligence and ongoing surveillance. Asset managers working through public credit research at speed. Insurers monitoring both underwriting and investment books. Trading houses managing counterparty exposure across commodities and structured trades. Energy and utility companies operating in volatile, capital intensive markets. Corporates assessing risk across customers and suppliers. Asset servicers building surveillance and reporting infrastructure. Regulators and supervisors looking for independent visibility into market wide credit risk.
The common thread is exposure that has outgrown the tools built to monitor it. AIR is for anyone holding that exposure and ready to see it clearly.
06
Why AIR
AIR was built by an AI and credit native team. Engineers and researchers from Moody's, Goldman Sachs, Morgan Stanley, the Chicago Federal Reserve, and a leading AI lab, working together on a single thesis: that credit risk deserves infrastructure built for the modern market, not retrofitted from the last one. That heritage shows up in the product. Our models are explainable by construction. Outputs are deterministic and transparent. Every signal is traceable to the source documents and reasoning behind it. No black boxes. The platform is SOC 2 Type 2 compliant, available in the cloud or on premise, and designed from day one for the controls, audit trails, and integration requirements of institutional environments.
07
What's next
AIR is live for our customers today. New customers can request access starting now.
This is the first release in a longer arc. Over the next few weeks we will be expanding coverage across additional asset classes, deepening the agentic workflows for credit analysts and portfolio managers, and publishing more of our research on how AI changes the way credit gets assessed. We will have more to share soon.
Credit is too important an industry to live on infrastructure built for a world that no longer exists. AIR supercharges what our clients can see, what they can ask, and what they can act on. The advantage is no longer about reacting faster than the next desk. It is about acting first.
We are proud of what we have built. This is the beginning, and we are excited to show you what's next.