Company absorbing revolutionary statement of belief (5)
I believe the answer is:
Here is my best explanation:
'statement of belief' is the definition.
(I've seen this before)
'company absorbing revolutionary' is the subsidiary indication.
'company' becomes 'co' (abbreviation).
'absorbing' indicates putting letters inside.
'revolutionary' becomes 'red'.
'co' enclosing 'red' is 'credo'.
(Other definitions for credo that I've seen before include "Faith or belief", "conviction", "set of beliefs", "Belief system", "words", "Aims", "A statement of one's beliefs", "Formal statement of principles", "set of ideas" and "Guiding beliefs".)