S&P Valuation and Risk Strategies, part of Standard & Poor's, launched a credit score tool that enables users to compare credit profiles of more than 26,000 companies worldwide.
Overall scores will be based on a firm's operational risks and its ability to generate cash and meet its financial obligations. Users also can assess default risks over the next 12 months based on financial, industry and economic factors. The so-called credit health panel can provide default probabilities and overall credit health scores for the largest universe of companies ever addressed by S&P, the company said in a statement.
The service is aimed at commercial lenders and risk management professionals, Michael Mastropaolo, a director with S&P Valuation and Risk Strategies. S&P Valuation and Risk Strategies is independent from other groups in S&P, including S&P Ratings Services.
The new service will expand coverage to about 23,000 companies that are not now rated by S&P, including large firms such as Apple (AAPL.O) that do not have debt. About 3,000 rated companies will also be covered. All are nonfinancial publicly traded firms.
