Xignite, Inc., the leading provider of market data cloud solutions, today announced they are working with Business Compass, LLC to power their corporate credit risk analysis tool targeted to credit managers, controllers, investors and portfolio managers—the Altman Z-Score+ App for desktops and Apple, Android and BlackBerry mobile devices. Based on Professor Edward Altman's renowned Z-Score model for corporate defaults, the application helps companies better assess credit worthiness and make informed decisions regarding lending, accounts receivables, investments and adverse corporate events. A case study on the Altman Z-Score+ solution is available.
Important decisions involving the extension of credit financing, vendor relationships and corporate investment are critical to today's businesses, generally requiring time-consuming and expensive due diligence to assess the current and future solvency probability of a company. The Altman Z-Score+ mobile app delivers objective, real-time corporate credit risk analysis on thousands of U.S. and international companies at one-tenth the cost of competitive services. Users simply enter the ticker symbol of a company to receive their credit rating over the past three years, forecasted bankruptcy probability over the next 10 years and future default predictions for the corporation's new and existing corporate bonds and loans.
“Based on direct consumer feedback, we found that customers needed an easy way to analyze the financial well-being of a company,” says Sribatsa Das, founder and CEO of Business Compass. “They wanted to see how credit worthy a company had been over the past three years and know its bankruptcy probability for the next 10 years. The Altman Z-Score+ App provides the subscriber with insights beyond the traditional Z-Score by estimating bond rating equivalent (BRE), predicting up to 10 years of cumulative default probability and ranking a company within its industry sector."
The Altman Z-Score+ App utilizes a number of Xignite market data APIs to obtain income statement, balance sheet, shares outstanding and closing stock price data for the more than 3,700 companies tracked within the service. Combing fundamental business operations and valuation data with the current stock price, users are afforded up-to-date insight into the financial state of a company, enabling them to make informed business decisions.
"We found Xignite's solution to be simple to work with and easily integrated, allowing for quick time to market. Moreover, they are customer focused and committed, with a support team that is very approachable," offers Das. "We started the relationship with Xignite over a year ago and my experience has been positive every step of the way. Without the Xignite data, much of the capabilities delivered by the app would not have been possible."