The primary function of PACRA is to evaluate the capacity and willingness of a corporate entity to honor its debt obligations. PACRA ratings reflect an independent, professional and impartial assessment of the credit risk associated with a particular debt instrument or a corporate entity. By providing a measurement of risk, PACRA's ratings facilitate investors in making prudent investment decisions after determining the acceptable rate of return at the given risk level. However, regardless of the type of rating, it is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.