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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

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

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