Take-up of the UK’s emergency commercial paper scheme aimed at big businesses is accelerating, as reported in The Financial Times’ Lex column, highlighting Credit Benchmark’s role in providing aggregated credit assessment data to the Bank of England.
The article notes that only one-third of the FTSE350 have a public credit rating, but that companies may apply for the Covid Corporate Financing Facility (CCFF) utilizing Credit Benchmark data:
“Another route into the scheme is via data analytics firm Credit Benchmark, which collects UK banks’ assessments of corporate creditworthiness and provides the BoE with an aggregate figure.”
The Financial Times, April 23, 2020.
