Questions every prospect asks — answered directly.
No sales language. Straight answers about what this is, what it isn't,
and what to expect before you engage.
What This Is — and Isn’t
Is this a credit rating?
No. RRA Analytics issues an independent analytical risk opinion,
not a registered credit rating. It is not issued by a Nationally Recognised
Statistical Rating Organisation (NRSRO) or an equivalent regulated credit rating
agency, and it should not be relied upon as one. It is a structured, published,
and reproducible methodology — but it is an opinion, not a rating action.
Are you licensed or regulated as a rating agency?
No. Emrul Naser operates as an independent analyst providing
opinion-based advisory services. This is not a licensed credit rating agency,
bank, or regulated financial institution. The underlying assets assessed may
themselves sit within regulated frameworks (e.g. MAS-regulated tokenisation
platforms, DFSA-licensed jurisdictions) — but the assessment itself is an
independent third-party opinion, not a regulatory approval.
Is the AITS / 2Q-H-C-T-L-I methodology peer-reviewed?
Not yet. The working papers are distributed as
“Not Peer-Reviewed — Distributed for Academic Review, Journal
Submission, and Professional Development.” They are first-of-kind
original frameworks, validated through mathematical rigour, 15+ years of
institutional credit risk experience, and AI-assisted examination — not
through formal academic peer review. Every formula and threshold is published
openly on SSRN so any quantitative team can scrutinise it independently.
How is this different from Moody’s or S&P?
Traditional rating agencies use compensatory models — a
weak factor can be offset by strong ones elsewhere, producing a blended letter
grade. RRA Analytics applies a non-compensatory geometric-mean
methodology with mandatory hard gates on legal enforceability, ownership
legitimacy, and data truth. If any hard gate fails, the entire score voids
— no averaging can hide a broken foundation. It is also purpose-built for
tokenised RWA structures (on-chain hash verification, token binding, ERC-3643
compliance), which legacy rating agencies were not designed to assess.
How is this different from a DeFi risk dashboard?
Most DeFi risk dashboards score on-chain, algorithmic signals only —
liquidity, volatility, smart-contract audits. RRA Analytics combines those
on-chain checks with off-chain institutional verification:
independent legal opinions, title searches, KYC/KYB, audited financials, and
on-site inspections where relevant. It is built specifically for the gap where
tokenised real-world assets meet real-world legal and ownership risk —
something a purely on-chain dashboard cannot verify.
The Assessment Process
How long does an assessment take?
A standard single-asset assessment typically takes 5–10 business
days from receipt of complete data, depending on jurisdiction
complexity and how quickly third-party verifications (title registries, legal
opinions, auditor confirmations) come back. Submissions are acknowledged within
one business day.
What do you need from me to start?
At minimum: entity registration documents, audited or management financials,
details of the underlying asset (title/ownership documents, tokenisation
contract or platform details), and any existing legal opinions. The
Submit Asset Data form captures the essentials
up front so the first reply already has a scoping answer rather than a request
for more information.
What happens if my asset fails a hard gate?
The composite score voids — that is the non-compensatory principle in
action. You still receive a full report showing exactly which gate failed, by
how much, and what would need to change for it to pass on re-assessment. A
failed gate is information, not a dead end: many issues (unregistered charges,
incomplete KYC, missing legal opinions) are fixable, and a re-assessment can be
requested once resolved.
Can I publish or share the report?
Yes. Assessment reports are prepared for you to share with investors,
counterparties, or platform partners as part of your due-diligence package.
Two full sample reports (Real Estate and Corporate Debt) are already published
openly on the Reports page so you can see the exact
format before commissioning your own.
Who has used this?
RRA Analytics is an independent practice founded and operated by Emrul Naser,
applying 15+ years of institutional credit risk experience from Agrani Bank
PLC. Rather than a client roster, the fastest way to evaluate the work is to
review the published sample assessments and the
SSRN-archived methodology papers directly —
every formula, threshold, and calculation step is shown in full, not summarised.
What asset classes can be assessed?
The framework currently covers tokenised real estate and
tokenised corporate debt instruments, with the AITS standard
designed to extend to infrastructure, trade finance, gold/commodities, and
Sukuk/Islamic finance structures. If your asset class isn’t listed,
get in touch to discuss configuration.
Still have a question that isn’t answered here?
Every formula, threshold, and worked calculation is also published openly on
SSRN — or you can ask directly.