Methodology
Transparent inputs. Consistent outputs. Built for transfer pricing.
Data and Coverage
Currencies Supported
Historical Window
Bond pricing data and yields available from 2020 to present.
Data is updated daily for all major currencies.
Coverage Note
Coverage depth varies by market. Major currencies (USD, EUR, GBP) have the deepest coverage, while smaller markets may have fewer observations for certain rating/term combinations.
Proprietary Credit Rating
tpFins harmonizes credit ratings from S&P, Moody's, and Fitch into a consistent, unified scale. This allows for accurate comparisons across issuers rated by different agencies and ensures robust sample sizes for benchmarking.
Credit Rating Mapping Table
Detailed rating equivalency documentation available upon request
Arm's-Length Range
tpFins calculates the arm's-length range using standard statistical quartiles derived from the distribution of yields for comparable bonds.
Minimum
The lowest yield in the dataset
Q1 (25th Percentile)
25% of observations fall below this value
Median (50th Percentile)
The middle value of the distribution
Q3 (75th Percentile)
75% of observations fall below this value
Maximum
The highest yield in the dataset
Summary Statistics
SampleMinimum
4.12%
25th %ile
4.85%
Median
5.23%
75th %ile
5.67%
Maximum
6.45%
Count (n)
127
Filter parameters: USD, 5Y Term, BBB Rating, As-of 2024-01-15
Benchmarking Outputs
Every export from tpFins includes complete documentation for audit-readiness:
Filter Parameters
Currency, term, rating, industry, and any other search criteria applied
As-of Date
The reference date for all yield calculations
Sample Size
Number of bonds (n) included in the analysis
Assumptions
Methodology notes, rating mapping rules, and data source attribution
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