New rating model for Limited Companies

29 August 2019

You receive this email since you have an agreement with Creditsafe where you have access to at least one of our APIs that can return a company rating. On Friday, November 1, 2019, we will launch a new rating model for limited companies. To ensure that your requests will continue to work, you need to read through the information below and make any necessary adjustments.

Should you not be the right recipient of this e-mail, we ask that you forward it to your IT department and/or technical consultant.

Summary of the new rating model

The new rating is based on more models than before and will be more accurate in the different segments. Based on size, company type and age, we have emphasized existing parameters and replaced and supplemented with new parameters to give you as a customer a higher precision in your assessment. In addition, we will offer a unique risk assessment per company as well as comments explaining what the rating is based on.

You can find more information about the new rating model here >>.

What you need to do

Since have access to one or more APIs (web services) or batch runs via file delivery that can return a rating you may need to make adjustments on your side. Exactly what may need to be done is listed under the respective link below. Each link corresponds to one service and you may therefore need to go through several depending on which services you have access to.

Please note! Clarification regarding the rating texts

The value in the <RATING_TEXT> parameter will be changed according to the table you find under GetData and GetData Batch on all company types and not only on limited companies.

We therefore ask you to carefully read every link that relates to the services you use. Please note that Creditsafe cannot determine if any customization is required on your side so this email must reach your IT department and/or technical consultant.

If you need assistance in deciding which services you have access to, you are welcome to contact your customer manager. If you have technical questions, please contact [email protected].

New parameters

We will add new parameters for rating comments and risk prognosis in several services. More information on this is under the respective service.

Good to know about the new rating:

The rating description will show risk instead of creditworthiness

We will use the same rating scale (0-100) and interval

The rating will still predict the risk of insolvency within 12 months

We will add risk (%) and also rating comments to highlight important factors that could impact the rating

Same rating intervals, but focus on risk level:

When will more information come out?

At the end of August / September, you will receive more information adapted to the services that you are using. If you have implement the rating into your own systems, it will continue to be delivered in the same way but together with risk (%) and rating comments. Of course, we are also here to answer questions and provide guidance.

For questions, please contact us at 031-725 50 50 or [email protected].