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Credit Benchmark (CB), provider of the world’s only independent, consensus-backed credit risk intelligence, has reached a significant milestone for its Credit Consensus Ratings (CCRs) by covering more than 100,000 entities around the world.
Michael Crumpler, Chief Executive Officer at Credit Benchmark, said: “When we launched in May 2015, Credit Benchmark was only covering about 350 names, so we are very proud to have reached this significant 100,000 milestone. This growth is testament to the market’s desire for a new approach to thinking about credit risk and a differentiated product offering, which CB has been able to meet.”
The 57% increase in coverage year on year is the result of several large banks joining Credit Benchmark’s service recently. CB is now partnering with more than 40 financial institutions globally including 17 Global Systemically Important Banks (GSIBs) representing more than $40tn in total assets.
Credit Benchmark aggregates and anonymises the risk views from these banks, which are created, validated and monitored by more than 20,000 of the most respected credit risk analysts in the world.
More than 90% of the entities that CB covers are unrated by the major credit rating agencies and more than 90% are private companies. They include 48,000 corporates, 13,000 financial institutions, 38,000 funds and 2,000 government or other organisations spanning 156 countries.
“I am confident that our growing dataset and enhanced analytical products will continue to help our clients more effectively and efficiently manage risk,” Crumpler added.
