Pablo de Ramón-Laca, executive president of Cescehas signed with the European agency Ethifinance Ratings a Agreement to integrate your ratings In the study of coverage applications to the Spanish company on behalf of the State, in order to expedite the processing and continue supporting the internationalization of Spanish companies.
The agreement signed between the Spanish Export Credit Agency and the European Credit Qualification Agency will allow SMEs and large companies access risk coverage and Financial products necessary for internationalization. It should be noted that both the traditional export of goods, and the export of services and investments abroad promotes the creation of more competitive conditions for Spanish companies within the framework of their external activity, being the State in charge of covering much of the risks associated with internationalization operations, regardless of the commercial, political or extraordinary nature of them.
In this sense, the coverage on behalf of the Spanish State of the risks of internationalization through the different insurance and guarantee instruments, such as the Corporate Risk Analysis of CESCE linked to the study of matters for coverage on behalf of the Stateit is an essential instrument of Spanish foreign commercial policy that supports the Spanish company so that its international activity is safer and more competitive.
So that, to expedite the Spanish Company Commercial Management Company, the requesting companies are processing the access files to the relevant risks and financial products for their internationalization, CESCE will integrate the credit ratings issued by ethifinance ratings as part of its corporate risk analysis linked to the study of coverage requests on behalf of the State. Thus, the company that depends on the Ministry of Economy, Commerce and Business will facilitate the exit abroad to SMEs and qualified companies as electro -intense consumers that have a credit rating.
Similarly, both companies undertake to collaborate offering mutual commercial supportsince, despite operating in the financial field, its approaches and services are different. On the one hand, Ethifinance will communicate the products and services of CESCE among its customers, while the Spanish Export Agency (ECA) responsible for managing export credit insurance on behalf of the state of Spain will disclose the tools and qualifications of the first.
Thus they will work together in the realization of educational activities, informative events and joint actions to promote both the financial inclusion of SMEs and large companiesas well as the business fabric competitiveness. So, this collaboration will benefit Ethifinace’s position as a leading credit qualification agency in support of SMEs and large companies and the plan of impulse for the internationalization of Spanish Cesce companies.
Pablo de Ramón-Laca He stated that this collaboration allows them to “optimize our risk analysis processes and directly benefit companies by reducing processing times.” He has also shown the commitment from “facilitating Spanish companies that allow them to face their financing challenges with guarantees and contributing to their expansion and growth,” according to the entity itself.
For its part, Carol SirouCEO of Ethifinance, thanked the confidence of Cesce deposited in the work carried out by his company and has identified the agreement signed as “evidence of the importance of companies having a rating not only to finance in institutional and alternative markets but also as a letter of presentation with a variety of stakeholders.”
The agreement signed between both financial institutions will benefit SMEs and large companies in the Credit evaluations processing of their companies, in order to review their solvency in view of the financing received for the development of their external activity, promoting the Internationalization of Spanish companies.
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