Post by Peter Ellis on Jan 11, 2010 12:13:46 GMT 1
In its latest International Risk and Payment Review, Dun & Bradstreet kept Croatia’s credit rating at DB3s, which designates a country with a mild business risk. According to D&B, 24.5 percent of payments by Croatia’s companies to foreign companies were late 30 days or more from the contracted deadlines.
64.2 percent of payments were settled within the deadline while 9.9 percent were late 60 days or more. 2.7 percent of payments are late 120 days or more. Due to a credit crunch, FX pressures and other circumstances, D&B predicts the payments to foreign companies will still remain a challenge for Croatia’s businesses.
D&B forecasts that in 2010 as well unemployment and salary reduction will result with a reduced consumption. Unemployment will be increased to 9.3 percent and banks will be increasingly reluctant to grant retail loans. The banks’ stricter crediting policy will also reduce potential investments.
64.2 percent of payments were settled within the deadline while 9.9 percent were late 60 days or more. 2.7 percent of payments are late 120 days or more. Due to a credit crunch, FX pressures and other circumstances, D&B predicts the payments to foreign companies will still remain a challenge for Croatia’s businesses.
D&B forecasts that in 2010 as well unemployment and salary reduction will result with a reduced consumption. Unemployment will be increased to 9.3 percent and banks will be increasingly reluctant to grant retail loans. The banks’ stricter crediting policy will also reduce potential investments.