INBONIS Rating aims to issue 2,000 new ratings for European midcaps by 2028 to boost their access to alternative financing

The rating agency presents its strategic plan to accelerate its international expansion and consolidate its role in capital markets

The company seeks to position itself as a European credit information infrastructure for SMEs and midcaps

INBONIS Rating, the Spanish credit rating agency specialising in European SMEs and midcaps, has presented its new strategic plan, approved by its Board of Directors, with the objective of issuing 2,000 new ratings over the next two to three years. With this roadmap, the company aims to reach around 3,500 ratings issued by 2028 and strengthen its role as a credit information infrastructure for Europe’s business community.

The plan was presented at a press breakfast held in Madrid, attended by José Antonio Álvarez, Non-Executive Chairman of INBONIS Rating and former CEO of Banco Santander; Alberto Sánchez-Navalpotro, CEO and Founder; Víctor Ausín, Chief Economist; and Elena Herrero-Beaumont, Director of Research and Institutional Relations.

INBONIS has established itself as a pioneering agency in the rating of small and medium-sized enterprises and midcaps. The company has issued close to 1,500 ratings and has developed its own methodology tailored to a business segment which, despite its economic importance, remains largely outside the radar of the major international rating agencies.

Democratising credit ratings

“The objective of INBONIS is to democratise credit ratings so that medium-sized European companies can access more sources of financing, gain visibility among investors and compete on better terms,” said Alberto Sánchez-Navalpotro during the event. “Europe has a very strong business fabric, but it needs more independent, comparable and standardised information so that capital can reach companies with genuine growth potential. From Spain, we are building a European credit analysis infrastructure for SMEs and midcaps; in this sense, INBONIS also contributes to strengthening the Spain brand, demonstrating that international financial standards can be developed from our country.”

INBONIS focuses its activity on medium-sized companies and midcaps, a segment that remains highly dependent on bank financing and faces greater difficulties in accessing capital markets, private credit or cross-border financing. “Europe has realised that its capital markets do not function with the necessary depth,” said José Antonio Álvarez. “If we want European savings to finance European companies, we need reliable information about those companies; and ratings are an essential part of that common language.”

A potential market of 5,000 investment-grade midcaps

During the press breakfast, Víctor Ausín explained that there are approximately 25,000 midcaps in Europe, of which around 20% could have an investment-grade rating. This represents some 5,000 European companies with the potential capacity to attract alternative financing if independent and comparable credit information were available on them. The majority of these companies are concentrated in the central European industrial corridor, although southern Europe also represents a significant share of the universe analysed.

European expansion and team growth

INBONIS’s new strategic plan envisages a gradual geographical expansion across the main European markets. The company, headquartered in Madrid and present in France, is also exploring the UK market, where it is working to obtain recognition from the local supervisor. The opening of a branch in the United Kingdom will be assessed depending on market depth and growth opportunities in a financial centre that INBONIS considers particularly relevant. The agency currently has around 35 professionals and expects to grow its team to nearly 50 people in the short to medium term.

With its new strategic plan, INBONIS aims to establish itself as the leading European agency for SMEs and midcaps, and to contribute to the development of a capital markets union in Europe. Its objective is to build a credit analysis infrastructure that makes it possible to identify which companies have real growth potential, where solvency lies and which sectors are in a position to attract investment.