What does the “STRONGEST IN LATVIA" certificate mean and how are companies certified?
The “STRONGEST IN LATVIA" certificate is granted to financially stable Latvian companies. It confirms that the company has good credit history and management.
What are the key criteria for certifying companies and their leaders?
The key criteria for granting the “STRONGEST IN LATVIA 2017" and “STRONGEST LEADERS OF LATVIA 2017" certificates is a high credit rating, which predicts a low default risk for 90 or more days in the following twelve months. The creditworthiness of the company is assessed and ratings are determined on the basis of the credit rating principle, which consists of information on financial liabilities, history of debt payments, financial results – turnover, profitability, liquidity, equity, other ratios and their changes. Business relations, legal constraints, business risk and other relevant information is assessed. The total score consists of more than 100 different variables that may affect the credit rating of the company.
Where is the data for the company’s credit rating calculation obtained from?
The credit office receives data from the Register of Enterprises, the State Revenue Service, credit institutions – commercial banks, leasing companies and other lending companies, as well as companies in the construction, trading, energy and other sectors with which there is an agreement on cooperation on the exchange of data.
Apply for the “STRONGEST IN LATVIA" certification and get:
- greater trust in your company both in Latvia and abroad
- appreciation from cooperation partners
- additional competitive advantages
- confirmation of your company’s good reputation
- approval of the ability to harmonize professional and personal business interests
- stronger position of being a trusted employer