S&P launches mid-market assesment service

The Mid-Market Evaluation will target companies with revenues and debt standing at less than €1.5bn and €500m respectively. The product aims to increase transparency and comparability of mid-market companies from a credit perspective, in order to aid these companies in securing alternative sources of funding.

S&P estimates that mid-sized companies will require up to €3.5tn in funding by 2018, with around €2.7tn related to refinancing existing loans and the remaining €800bn for support and expansion capital.

"While larger corporates have easier access to finance and much smaller companies are the focus of a variety of policy proposals, medium-sized businesses or the 'squeezed middle' appear to be falling into the gap between them," explained Alexandra Dimitrijevic, managing director at S&P.

The new service highlights the increasing prominence of direct lending and alternative sources of funding across Europe, as Basel III restricts banks from lending into smaller and riskier companies.

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• Financing
• United Kingdom