RapidRatings CEO: We will see a significant increase in defaults in mid-size private companies

This article was originally published on CNBC.
Jan. 30, 2023 | LINK

RapidRatings CEO James Gellert joins ‘The Exchange’ to discuss refinance troubles for upcoming debt maturities, industry and business size impacting borrowing dynamics, and small companies feeling the strain from contraction in customer budgets.

CNBC news featuring James Gellert, RapidRatings Chairman & CEO

“No company operates in isolation; it operates in an ecosystem of counterparties. Roughly 75 percent of most Fortune 500 companies’ suppliers are private companies,” said James.

Most companies rely on many businesses in the form of suppliers, vendors, and critical third parties to keep your operation moving. But those businesses are being squeezed by increasing interest rate costs and upcoming debt maturities.

Our Chairman & CEO James Gellert joined CNBC in a must-watch interview where he discussed how our Financial Health Rating is flagging financial distress in even the strongest companies’ supply chains, due to rising costs and upcoming debt maturities.

Fortunately, with RapidRatings businesses have peace of mind when it comes to their supply chain and third-party ecosystems, even in times of uncertainty.

Lean more about our Financial Health Rating and how we are setting the standard for financial health transparency between businesses.

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