Credit Benchmark’s credit risk data is now available on the Bloomberg Terminal and will be available for clients to license for an enterprise use case.
The financial data analytics firm provides complementary content to help market participants assess the credit quality or risk of default of a counterparty, company or entity, all integrated within their existing workflows.
To do this it aggregates and anonymises credit risk estimates from market participants and offers insights into unrated sovereigns, funds and public and private companies and subsidiaries.
Credit Benchmark also specialises in enterprise-wide applications including securities finance, asset management and debt capital markets as well as partnering with financial institutions globally and publishing a consensus rating and other metrics that include coverage of more than 34,000 public and private companies.
According to Bloomberg, firms are increasingly seeking independent data to validate their own internal counterparty and credit risk assessment and to supplement external ratings data from traditional ratings agencies.
Embedding Credit Benchmark data into the Bloomberg Terminal can help support risk management, loan and debt underwriting, portfolio optimisation, supply chain risk management, investment idea generation, and as a means of assessing ongoing credit quality, says Bloomberg.
“The broad coverage provided by Credit Benchmark will allow for easier credit assessment of non-rated companies, as well as provide a complementary point of information to existing analytics on the Bloomberg Terminal,” says Mark Flatman, global head of core product at Bloomberg.
Bloomberg revealed that in addition to certain consensus data that will be made available to all Bloomberg Terminal subscribers at no additional charge, Bloomberg will offer a premium Credit Benchmark service that provides more granular data for analysis.
This premium offering can be delivered over the Bloomberg Terminal and can also be delivered as a machine-ready data file for enterprise-wide use through Bloomberg’s Enterprise Data service.
Mark Faulkner, co-founder at Credit Benchmark, comments: “Teaming up with Bloomberg offers a welcome opportunity to provide much-needed credit transparency in areas such as securities finance, client onboarding, and supply chain risk management.”
