Euler Hermes Rating’s latest study finds that SMEs and mid-caps in Italy have a lower average 2-year default rate (2.05%) than their German (2.59%), French (3.05%) or even Spanish (3.67%) counterparts. However, the financial profile leader is Germany’s "Mittelstand" (SMEs and mid-caps). At 32.4%, the German firms have the highest percentage of investment-grade financial profiles (from BBB to AA and higher) of the four countries studied.
