Asset Rating (Layer 1)

Layer 1 of Steakhouse Financial's risk model, assessing issuer risk, credit risk, and operational risk for the underlying token.

This is Layer 1 of Steakhouse Financial's Multi-Layer Risk Rating. The Asset Rating evaluates the risks inherent to a token itself across three dimensions: issuer risk, credit risk, and operational risk. The layer's rating is the worst of its three pillars.

The Asset Rating reflects the risks considered when analyzing a token, as if the investor were a holder benefiting from its economic value generation.

The Asset Layer is assessed across three dimensions: issuer risk, which defines how the token is structured; credit risk, which measures the probability of loss; and operational risk, which evaluates the likelihood of technical failures.

Asset Layer	Pillars
Asset Rating Pillars	Issuer Risk
	Credit Risk
	Operational Risk
Asset Rating	Worst Rating of the Criteria