In the conditions of such a dynamically developing financial-economic and even political crisis in the world, businesses are increasingly resorting to financing their activities with funds provided by banking / credit institutions. For this reason, this topic aims to present the specifics of credit risk and the role of rating agencies in determining the credit rating of companies in assessing their creditworthiness. In this regard, we will focus on the following main steps / moment to achieve this goal, namely:

- borrowers as a behavioral type;

- specifics and measurement of credit risk;

- factors, stages and problems in credit risk management;

- analysis of cash flows and factors that affect cash flows;

- Balanced Scorecard Method of Analysis;

- determining the creditworthiness of an enterprise;

- and last but not least, the growing role of leading rating agencies in determining the credit rating of companies.