The global effort to slow the spread of COVID-19 continues to impact all economic regions and industries. Risk professionals must adapt quickly or risk being sideswiped by the rise in bankruptcies.
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With the PAYCE® score providing a substantial uplift compared to traditional trade payment analysis, more and more risk professionals are adding the bankruptcy model into their workflows and processes.
As the coronavirus (COVID-19) sends shockwaves through the stock market and the world at large, it has also greatly upped the financial risk potential for automotive, technology, healthcare, chemicals, and many other industries.
China’s non-financial corporate debt-to-GDP is the highest in the world at 160%, and corporate defaults are now running at a record pace.
AutoCanada Inc.'s heavy leverage has put the company in potential danger. As interest rates rise in both Canada and the U.S., expected softer sales and higher costs will make it much harder for the company to remain solvent in 2019.
With economies around the world on the brink of recession, or already in one, any professional monitoring financial risk needs to establish proper oversight now before commercial bankruptcies wreak greater havoc upon their portfolio.
Public and private companies need to be proactively evaluated in distinct, different ways by risk management professionals - fortunately, with the FRISK® score and PAYCE® score, CreditRiskMonitor has world-class solutions for both subportfolios.
From the start of the coronavirus pandemic, CreditRiskMonitor subscribers have experienced an increase in public company FRISK® scored corporate failures* throughout North America.
As default rates are rising, creditors are receiving rock bottom recoveries on their debt. Trade credit is even more vulnerable, likely to accept pennies on the dollar.