\ Il Parco \ MODEFINANCE ASSIGNS AN A3+ RATING TO PRADA SpA

modeFinance, the first Fintech rating agency to be officially registered by the ESMA (the European Authority of Financial Instruments and Markets), has assigned an A3+ rating to Prada SpA.

This is the first issuance of modeFinance on the Italian fashion colossus. The fundamentals of Prada SpA, we read in the opinion published on their site, are of excellent quality. The company presents a general situation of notable soundness both from the solvency point of view and from that of liquidity, while its performance indicators show values that are equal or above the median averages of their principal competitors and reference markets.

Its solvency is the greatest strength of the company: total debts are limited and its capitalisation strong. Due to unfavourable macroeconomic conditions, its profits have been constant or in slight decline, while its operating costs have increased. In the last three accounting years the profitability of Prada SpA, while remaining high, has nevertheless contracted with a reduction in operating margins.

The reference market for the company shares is Hong Kong, which has suffered much from the global crisis of 2008. An element of special attention for analysts and investors is precisely the macroeconomic scenario of the Asian region, which could have a negative influence on the company’s future profitability.

modeFinance is an international credit rating agency registered under the Authority of European vigilance on financial markets (ESMA). It was founded in 2009 by Mattia Ciprian and Valentino Pediroda as a spin-off from the University of Trieste and created from the intuition of applying Big Data to Finance within the seed capital source Innovation Factory of Area Science Park, Trieste. Through its own proprietary methodology, MORE (Multi-Objective Rating Evaluation), modeFinance is able to furnish an evaluation of over 200 million companies throughout the world, even in the absence of asset data. Its share capital is 57% controlled by the founders and 43% controlled by the Corvallis Group, active in Information Technology.