However, Jeff added, the analysts should include in each chapter all the relevant factual information about the assessment. “Don’t hide anything,” he instructed them. “The general tone of the chapter will be consistent with the proposed rating, of course, but if there is information that seems inconsistent or even contradictory with the main rating, don’t sweep anything under the rug. Your job is not to sell your recommendation. It is to represent the truth. If it is complicated, so be it—it often is.” In the same spirit, Jeff encouraged the analysts to be transparent about their level of
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