Competitor's Credit rating

Q:  Is there a way to tell if a competitor took out a short term loan when it shows a negative cash balance on the industry report?  The real reason I am asking is to find out why credit ratings haven't changed for some people in our world yet? Is the credit rating only updated yearly?

A:  Credit ratings are calculated by credit analysts in the 4th quarter of each year based upon a firm's performance over an extended period of time.   However emergency borrowing will normally trigger a reduction in a firm's credit rating in the quarter the emergency borrowing occurred.  See FAQ "Credit rating determination" for details.