Its rather short on details about what that analysis might be.
No it isn't.
In fact it spells out exactly how the ratings are derived. They are based on 7 criteria:
Is the airline IOSA certified?
Is the airline on the European Union (EU) Blacklist?
Has the airline maintained a fatality free record for the past 10 years?
Is the airline FAA endorsed?
Does the country of airline origin meet all 8 ICAO safety parameters?
Has the airline's fleet been grounded by the country's governing aviation safety authority due to safety concerns?
Does the airline operate only Russian built aircraft?
While one might not necessarily agree that those are the best questions to ask, it's hard to argue that the resulting ratings aren't transparent.