2.3 The Taxonomy

TICCS® is a four-pillar multi company-classification system designed to capture the characteristics of infrastructure investments. It consists of:

3 classes and 5 sub-classes of business risk;
8 industrial superclasses, corresponding to 35 industry classes of specific industrial activities and 101 industrial asset-level subclasses;
4 geo-economic classifications; and
2 corporate-structure classes with 2 subclasses.

Companies are classified on the basis of individual qualitative and quantitative criteria, including their contractual and regulatory structure and environment; their source of revenues; and their type of industrial activity, including the complexity and level of uniqueness of the relevant infrastructure both from a construction and an operational perspective. Their financial and corporate structure is also taken into account.

The four pillars

2.3.1 Business Risk

2.3.2 Industrial Activities

2.3.3 Geo-Economic Exposures

2.3.4 Corporate Structure

For the latest updates, see: TICCS® 2022 change log