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Euler Hermes Rating publishes SME & MidCap Rating methodology for Spain

  • Euler Hermes Rating GmbH, the registered credit rating agency (CRA) subsidiary of Euler Hermes, today publishes its TRIBRating methodology for Spain, allowing them to offer their rating service specifically designed for small- to medium-sized businesses and MidCaps with revenues between €10m and €500m in Spain
  • The TRIBRating service aims to enable small and mid-sized businesses to gain a transparent and internationally comparable credit rating using the full spectrum of the well-known ‘AAA’ to ‘D’ global scale
  • TRIBRating could enable SMEs and MidCaps attract a wider range of funding sources

Euler Hermes Rating GmbH, today publishes the Spanish TRIBRating methodology, a new rating approach specifically designed for SMEs and MidCaps. TRIBRating is a service developed through the Euler Hermes collaboration with Moody’s Investors Service, formed in late 2016. Launched in 2017 and already operational in Germany, France and Italy, TRIBRating is now being introduced in Spain as the fourth country of its wider European rollout. The TRIBRating service aims to enable small and mid-sized businesses with revenues between €10m and €500m to gain a transparent and internationally comparable credit rating using the full spectrum of the well-known ‘AAA’ to ‘D’ global scale.

Using a detailed, tailored and transparent methodology and SME-specific modelling, TRIBRating offers a robust assessment of creditworthiness. This independent and globally comparable credit rating could enable small- to medium-sized businesses in Spain to attract a wider range of funding sources.”said François Bourgeois, CEO of Euler Hermes Rating. With the new Spanish TRIBRating methodology, the tools for a greater transparency of European SME and MidCap credit risk that had previously only been available in Germany, France and Italy will now also extend to Spain. Smaller companies seeking to grow domestically or through export can now differentiate their credit risk levels from those of competitors in a way that has previously been typically restricted to larger businesses.

The TRIBRating methodology was developed in collaboration with Moody’s Investors Service, a leading global rating agency with extensive experience in developing rating methodologies across a range of sectors. Coupled with Euler Hermes’ extensive knowledge of SME credit risk, TRIBRating identifies, analyses and monitors the specific credit characteristics of SMEs and MidCaps.

TRIBRating is an important evolution in providing market participants with greater clarity regarding the components of SME and MidCap credit risk through global consistency and transparency,” said Jens Schmidt-Bürgel, Managing Director at Moody’s Investors Service. “It is a solution market participants have long been looking for, and Moody’s is pleased to collaborate with Euler Hermes on this.”

The methodology is available in English and Spanish.

About Euler Hermes Rating

Euler Hermes Rating GmbH (Euler Hermes Rating) was founded in 2001 as an independent European rating agency of the Euler Hermes and Allianz Group focusing on issuer and issue ratings. Euler Hermes Rating is registered as a credit rating agency (CRA) in accordance with Regulation (EC) No 1060/2009 of the European Parliament and Council (as amended) and is considered as an external credit assessment institution (ECAI) by the European Banking Authority (EBA). Euler Hermes Rating is a subsidiary of Euler Hermes, the world leader in trade credit insurance. The Moody’s group owns a minority stake in Euler Hermes Rating.

         

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