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What is CrefoScore?

Creditreform Latvija in cooperation with  Creditreform Risk Management (Germany) has developed automatical scoring system of enterprises registered in Commercial Register - CrefoScore. CrefoScore is and easy to use and efficient tool, that provides immediate assessment of credit applicant's solvency. CrefoScore corresponds to an estimate of expected probability of default over time horizon of 12 months.

CrefoScore is daily updated for all enterprises registered in Commercial Register. Based on international practice, CrefoScore is calculated as an index from 100 to 600, where the lower index shows higher solvency of the enterprise.

How to use CrefoScore?

In daily credit risk management practice assessment and classification of clients into risk classes is highly useful for allocation of appropriate cooperation condition.

Depending on company's credit risk policy, CrefoScore scale can be divided in three intervals, for example:

  • CrefoScore from 100-400 - credit accepted;
  • CrefoScore from 401-499 - individual decision;
  • CrefoScore no 500-600 - credit rejected.

Data used in CrefoScore calculation.

CrefoScore is built using the results of extensive Creditreform research. The following insolvency predictive data is included in the estimation procedure:

  • financial data;
  • Creditreform credit history database;
  • structural data of companies (i.e. number of employees, legal form, age, etc.);
  • industry default risk indicators;
  • VAT Payers' Register of Latvia;
  • Information about insolvency, liquidation, reorganisation, bankrupcy and legal protection processes.

How to inquire about companies CrefoScore?

CrefoScore of a specific company can be viewed in the Crefo SCORE product of our on-line portal CrediWeb.

Assessment of multiple companies or whole portofilo using CrefoScore is available as an individual service. Please contact our customer service department for futher information.