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This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at La crisis eleva en un 172% la cifra de impagos empresariales medios en 2008 en España

The crisis raises 172 per cent the number of media in 2008 corporate defaults in Spain

02/02/2009

February 2, 2009

The economic crisis in Spain was the cause of corporate defaults to grow from average 172 per cent in 2008, after a long period of stability in which they were at historic lows, according to data provided by the credit and suretyship insurance company.

According to the credit index and security breach, which reflects the evolution of defaults in commercial transactions between Spanish companies, in 2008 were analysed the commercial risk of credit sales amounting to more than 136,000 million euros and estimated the solvency of 2.9 million customers from all sectors of activity.

View credit and suretyship, it will have to wait for 2010 to see the first signs of economic recovery, "fruit of the processes of productive and structural adaptation of the various sectors of the Spanish economy", which means that the growth of this index will deflate during this financial year. In the current context, explains the insurance company, the companies should be used to fund in strengthening their systems of selection of risks and specialized recovery.

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