APR Begins Providing Credit Rating Services Based On Financial Statements For 2023

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The Business Registers Agency (BRA) will start issuing scoring reports based on the data from the regular annual financial statements for the year 2023, starting today. These reports provide a comprehensive insight into the financial condition of companies and are used for business analysis and assessment.

What is scoring?

Scoring is a form of credit rating that provides a complete picture of a company’s operations, enabling faster, simpler, and more efficient business decision-making, whether it concerns the selection of a business partner, competitor analysis, or business risk assessment.

Scoring is determined based on data from regular annual financial statements for the last five years, or at least the last three years. The financial performance of the company is evaluated using indicators for credit rating assessment, taking into account the basic trends in the industry in which it operates. Other relevant data is also analyzed, such as the number of days of insolvency in the last twelve months, data on restrictions on the disposal of funds in bank accounts, and similar information.

Who is the scoring intended for?

Scoring is created for companies and is issued in the form of a report that contains data for the period from 2019 to 2023.

Based on scoring, companies are classified into five basic and three specific levels of credit rating:

  • Excellent credit rating (AA)
  • Very good credit rating (BB+, BB, BB-)
  • Good credit rating (CC+, CC, CC-)
  • Acceptable credit rating (DD+, DD, DD-)
  • Very poor credit rating (EE)

For specific groups of companies, the credit rating is not determined due to certain legal procedures (bankruptcy, liquidation, status change), prolonged insolvency, lack of data, or for newly established companies.

How to order a scoring report?

The request for a scoring report is submitted to BRA electronically or in writing (in person, by mail, or fax), with a fee of 8,500.00 dinars. The report is issued in electronic form, but at the request of the user, it can also be issued in paper form, in which case the fee is increased by 20%.

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