modeFinance Gives the Barilla Group a B1+ Rating (First Issuance)

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Mar 21, 2016, 06:00 ET

TRIESTE, Italy, March 21, 2016 /PRNewswire/ --

The Italian start-up's debut as Europe's first FinTech rating agency

The modeFinance rating agency has given Barilla Holding SPA a B1+ corporate credit rating. The rating (first issuance) that modeFinance has published on the Italian food multinational reflects its good capacity to repay debts, with limited exposure to adverse changes in macro-economic factors. The B1+ rating forms part of modeFinance's classification table, which ranges from D, when a company cannot meet its financial commitments, to A1.

The rating has been published (http://cra.modefinance.com) on the website of modeFinance, the international credit rating agency registered with the European Securities and Markets Authority, ESMA. A spin-off from the University of Trieste with headquarter in Area Science Park , modeFinance was the brainchild of two academics, Mattia Ciprian and Valentino Pediroda, who wanted to use Big Data for financial analysis: modeFinance is thus the first FinTech credit rating agency in Europe.

Specifically, the report underlines that over the period in question (2012-2014), Barilla Holding Spa had satisfactory levels both in terms of solvency and earnings, as well as a low level of debt. Leverage ratio was 1.71 in 2014, which was low for the sector and which showed that the company is mainly self-financed. In addition to its assets, the group is growing, in part by consolidating earnings.

In the last year the company has increased total sales that registered a value of 3,254,095 th EUR with a positive rate of 2% respect previous year. Profitability ratios are at an adequate level, constant respect 2013 and improved considering 2012. ROI set at 10.09% and ROE at 15.76%.

Liquidity is sufficient and it is constant over the considered period.

In all considered areas (solvency, liquidity and profitability) the company has registered values equal or higher the median values of the peer group.

modeFinance

(http://www.modefinance.com) was founded in 2009 by Mattia Ciprian and Valentino Pediroda, as a spin-off from the University of Trieste. modeFinance is Europe's first fintech ratings agency. Using its proprietary MORE methodology (Multi-Objective Rating Evaluation), modeFinance can provide assessments of over 100 million companies in over 200 countries around the world. The share capital is 57% held by the founders, and the other 43% by the Corvallis Group, which paid 1.3 million Euros for the stake in 2015.