Creditworthiness and Scoring Analysis of the Italian SMEs Using Multiple Informative Sources During the Financial Crisis

In this paper a particular multicriteria decision aid approach is used in order to evaluate the creditworthiness of a set of about 14,000 Italian firms viewed as potential applicants for bank loans in the 2006-2008 period. The methodology is able to consider simultaneously all factors affecting the applicant firms' solvency level. The results in terms of scoring, classification into homogeneous rating classes and migration probabilities point out distinct behaviors – partly influenced by the crisis situation – both among the various rating classes groups and during the various years considered in the analysis