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Enterprise Rating System: Updating our Greek Corporates’ Ratings

A sample of 8,419 enterprises was analyzed in 2016, and 97.1% were SMEs, namely their turnover was up to €50 mn. The enterprises that outperform in liquidity, profitability and solvency, thus achieving the highest ERS rating (“a”), are 7.9% of the sample. 35.5% of the enterprises, with good but less satisfactory performance, were rated with “b”. The enterprises that fall behind significantly and are rated with “c” account for the largest percentage of the sample, namely 41.3%. Finally, enterprises with serious problems are rated with “d” and account for 15.3% of the sample.

Source: ICAP DATA, Piraeus Bank Research