The Checkrate Risk Score Predicts the likelihood of a UK Ltd or Irish Limited or Plc Company becoming insolvent within the next 12 months, whilst predicting whether a UK Sole Trader or Partnership Business (Non Ltd Business is likely to default on Payment (get a CCJ) in the next 12 months.
There are three different types of Score used:
- The Established Company Score for Companies who have filed accounts
- The Newly Incorporated Company Score for Companies yet to file accounts
- The Non Ltd Business Score for Businesses who don't hae to file accounts
Established UK & Irish Ltd & Plc Companies CheckRate Credit Rating Risk Scores:
The Established Company Credit Rating Risk Score has three main variations for the different sizes companies as per Companies House Filing Regulations. Small Companies do not have to File a Profit & Loss sheet (P&L) so as there are some bits of data missing that score needs to be different.
Medium & Large or Group Companies have to file Profit & Loss so they use different algorithms due to the extra data in their accounts. The medium and large company predictive variable differ though so the two models have different weightings of certain fields to reflect the differnet levels of predictiveness of those data sets for the different size bands of companies.
| CheckRate Established UK & Irish Ltd & Plc Company Credit Rating RiskScore definition where Accounts are filed | |
|---|---|
| 71-100 | Very Good Credit Worthiness |
| 51-70 | Good Credit Worthiness |
| 30-50 | Credit Worthy |
| 21-29 | Credit Against Collateral |
| 0-20 | Caution - Credit at your discretion |
| No Rating | Financial Statements are too old |
| Liquidated/Wound-up | Company is liquidated or is wound-up |
| Dissolved | Company is dissolved |
| Petition | Petition has been filed |
Newly Registered UK & Irish Ltd & Plc Companies CheckRate Credit Rating Risk Scores:
The newly incorporated Company Credit Rating Risk Score is similar to a Business score as there are no accounts filed so the number of variables are far less until the first filing. The score does take in to consideration the risk levels of the industry and the company using other fields (such as directors and location) and also uses associated company info to predict risk levels of the new company.
| CheckRate UK & Irish Ltd & Plc Company Credit Rating Risk Score definition where no Accounts are filed (Newly Registered Companies) | |
|---|---|
| 51-100 | Low Risk |
| 30-50 | Moderate Risk |
| 0-29 | Caution - High risk |
| Liquidated/Wound-up | Company is liquidated or wound-up |
| Dissolved | Company is dissolved |
| Petition | Petition has been filed |
UK Non Ltd (Sole Trader & Partnerships) Business CheckRate Credit Rating Risk Scores:
The Non Limited Business Credit Rating Risk Score using Non Financial Data Fields such as Operation Type, Premises Type, Industry Classification, Age of Business, Proprietor Info, and Dafault Payment History.
| CheckRate UK Non Ltd (Sole Trader & Partnership Business Credit Rating RiskScore definition (No Financial Information due to anture of the Businesses). | |
|---|---|
| 71-100 | Very Low Risk of Default |
| 51-70 | Low Risk of Default |
| 30-50 | Moderate Risk of Default |
| 01-29 | High Risk of Default |
| Not Rated | A Status or Event has effected the score |
