What does Creditsafe's credit score calculate?
Creditsafe's credit score is a statistical credit assessment of a company and predicts the probability that the company will go bankrupt within 12 months. The higher a company's credit score, the less likely it is to go bankrupt. The credit score for creditworthiness has a rating scale from 0 to 100, divided into five intervals.
Why did a company get a lower credit score?
Why a company has received a lower credit score can therefore be due to several reasons, and it is difficult to say exactly what has affected it in the specific case. Examples of common reasons include new payment notes, debt, new accounting figures or changed income of one of the board members.
What information is the credit score based on?
Creditsafe uses a large number of different parameters to ensure the quality of their credit scoring models. Creditsafe uses different generic scoring models depending on the legal form, with each model adapted to the individual companies' circumstances and risk picture. Each model uses the parameters that have the greatest explanatory value, that is, how well they can predict insolvency.
Examples of information:
Age of the company
Business
Annual accounts
Representatives' current and previous involvement in the company
Changes in the form of address and telephone
Changes in the board or the real manager
Auditor's comments
Ownership