New Zealand’s business environment is in a state of flux. This provoked credit reporting provider Dun & Bradstreet to downgrade the risk profile of 9,000 companies while upgrading 10,500 firms.
Dun & Bradstreet is the world’s leading source of commercial information and insight on businesses. D&B’s global commercial database contains more than 140 million business records. It’s headquarters is in Short Hills, New Jersey, USA.
Dun & Bradstreet took a step back as it went ahead to downgrade a total 9000 company risk profile. They also upgraded 10,500 general firms in accordance to the prevailing standards. This is all due to the huge flux that they are witnessing right now.
D&B declared that the firms shall witness a heavy financial crisis in the upcoming year. Other firms are accounted for the greatest number of company downgrades.
John Scott, general manager of D&B, told the media that the latest stands are a reminder for all-round economic recovery. According to him, in spite of the good signs, the alarming rates of the interest hike can prove to be a serious obstacle to overcome at this point in time.
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