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Slovenia Business Week no. 04/2005: Adacta, Helios and Krka Awarded for Robust Credit Ratings

The three companies were selected among several thousand for which credit ratings were made

An IT solutions company, a leading chemical group and a leading pharmaceutical group have been awarded as a Slovenian and a global rating firm joined forces once again to honour companies with the best credit rating from 2004 on Tuesday, 18 January.

Presenting the 9th Rating of the Year award, Slovenian firm I and one of the leading global rating companies Dun&Bradstreet honoured IT solutions company Adacta, chemical group Helios and pharmaceutical group Krka for their credit ratings in 2004.

The aim of the award is to promote financial discipline of Slovenian companies. The award has a practical value, as the winning companies will automatically be entitled to more favourable conditions with suppliers, banks and insurance companies.

The three companies were selected among several thousand for which credit ratings were made.

The top rating of A1 means that companies have achieved and even surpassed the required criteria for a top credit rating, and are successful partners to their customers, as well as their banks and suppliers, while also being environmentally-friendly.

According to Andrej Brvar of I, there were a total of 376 companies in Slovenia, which got the top risk rating last year. This is 30 percent more than a year earlier, a sign "that businesses are operating better in spite of the tough conditions at home and on foreign markets".

According to the vice chairman of Dun&Bradstreet Europe, Christophe Favre, the Rating of the Year award demonstrates great progress in Slovenian entrepreneurship. It is the companies with the top risk rating that form the backbone of the Slovenian economy, he pointed out.

Set up in 1990, I d.o.o. is the oldest as well as the leading Slovenian rating firm. Much of its business stems from its partnership with Dun&Bradstreet. Following a D&B pattern, the rating firm each year issues a few thousand reports on Slovenian companies.

Until present, rating services have been mainly ordered by foreign companies, while an interest in this kind of information has been surging among Slovenian companies in recent years. The main subscribers to these kind of services in Slovenia are export companies, banks, insurance companies as well as the state.

Based in the United States, Dun&Bradstreet is one of the world's major firms offering independent assessments of company strength. Via the Internet, it provides information on some 80 million companies worldwide.

Last year's winners of the award were automotive parts maker Iskra Avtoelektrika, vinyl floor coverings producer Juteks and data systems solutions provider Spica International.

Source: Slovene Press Agency STA