Suppliers Improving But Are At Risk, Says BBK Ratings Reports
“BBK Ratings requests are up this year, indicating there’s still a lot of uncertainty about the economy and that more companies want to proactively evaluate their suppliers to eliminate surprises,” says Michael Wagner, BBK director of proactive services.
BBK completes its ratings by gathering and evaluating suppliers’ financial data at the request of the suppliers’ original equipment manufacturers (OEMs), tier one and tier two customers. BBK Ratings provide them with current, objective, comprehensive, confidential evaluations of their suppliers’ financial status and the factors influencing it. Rated companies represent several industrial sectors: manufacturing, services, agricultural and retail.
“Private companies are recovering nicely from the nation’s economic collapse: 65 % are now rated as financially stable compared to 46% in 2009, however, 24% are still showing some level of financial distress,” says Wagner.