Peculiarities of Assessing the Creditworthiness of Russian Grain Producers

Topic. Peculiarities of creditworthiness assessment of Russian grain producers Objective of the research. Development of an algorithm for assessing the creditworthiness of enterprises of the grain complex. Goals 1. To define theoretical and practical aspects of the concepts of creditworthiness and bankruptcy. 2. Analyze of current condition of the Russian agricultural sector. 3. Research of foreign and domestic models for predicting of bankruptcy risk, as well as sectoral methods of assessing the creditworthiness of enterprises. 4. To develop an algorithm for assessing the creditworthiness of enterprises for companies growing annual crops. Approach to the solution. The object of the study were companies which are involved in the production of grain and puls crops. Using SPARK Interfax, the financial statements of 99 companies were collected and analyzed, 39 out of 99 companies were recognized as bankrupt over the period 2011-2020. In order to analyze the creditworthiness of enterprises, the 11 indicators used by AO «Rosselhozbank» were analysed. Using correlation analysis and other econometric tests, 5 optimal coefficients out of 11 were selected for scoring model. Results of the work. Based on the analysis of foreign and domestic models for predicting bankruptcy risk, there was formulated an algorithm for assessing creditworthiness for Russian producers of single-year grain crops. It includes a scoring model and a normative base with financial indicators of the enterprises. The scoring model correctly verified 85% of non-bankrupt companies and 87.2% of bankrupt ones.