The agreement signed between Cesce, the Spanish Export Credit Insurance Company, and EthiFinance Ratings, the European credit rating agency, marks a milestone in supporting the internationalization of Spanish companiesThe integration of EthiFinance Ratings credit ratings into Cesce's corporate risk analysis, specifically in the study of requests for coverage on behalf of the State, will allow the processing of files to be optimized and accelerated, facilitating access to risk coverage and essential financial products for the international expantion.
Beyond the integration of ratings, the agreement includes mutual commercial support between both entities. EthiFinance Ratings is committed to promoting Cesce's products and services among its clients, consolidating its position as a leading credit rating agency in supporting SMEs and large companies. For its part, Cesce will promote EthiFinance's tools and ratings as part of its strategy to boost the internationalisation of Spanish companies.
The agreement also establishes collaboration in the implementation of educational activities, information events and joint actions, in order to promote the financial inclusion of SMEs and large companies, as well as the competitiveness of the Spanish business community.
Cesce will integrate EthiFinance Ratings' credit ratings into the study of requests for State-funded coverage to speed up the processing of companies' internationalisation files
“This collaboration allows us to optimize our risk analysis processes and directly benefit companies by reducing processing times. We are committed to providing Spanish companies with tools that enable them to face their financing challenges with guarantees and contribute to their expansion and growth,” he stated. Paul Ramon-Laca, executive president of Cesce.
“This agreement is further evidence of the importance of companies having a credit rating, not only to obtain financing in institutional and alternative markets but also as a calling card with a variety of stakeholders. At EthiFinance, we appreciate Cesce’s confidence in our ratings in their risk assessment processes,” he stated. Carol Sirou, CEO of EthiFinance.
The union of Cesce and Ethifinance is presented as a great tool for the help of Spanish SMEs, since among the obstacles that they face when it comes to internationalization, there is the lack of knowledge and contacts in other countries. This agreement attempts to solve this, facilitating the mutual support of the institutions.
Cesce, as a reference entity in export credit insurance, contributes its experience and knowledge of the international market, while EthiFinance Ratings, with its specialization in risk rating, provides an objective and accurate assessment of the solvency of companiesThis synergy will allow Spanish companies to access financing under more favourable conditions and to face the challenges of internationalisation with greater confidence.
The agreement is also of particular importance for companies classified as electro-intensive consumers, a strategic sector for the Spanish economy. These companies, which require a high consumption of electricity for their activity, face specific challenges in terms of financing. The collaboration between Cesce and EthiFinance will facilitate their access to the financial resources necessary for their international expansion, thus contributing to their competitiveness and sustainability.
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