Research from U.K.-based Creditsafe Inc. shows that U.S. construction firms are more stable than they were one year ago. Creditsafe found that less firms were ranked as high credit risks and companies are paying their bills earlier.
Roughly 250,000 construction firms are ranked as high credit risks, a drop of 5.8% compared to one year ago. Those classified as low risk increased 1.7% to nearly one million.
In addition, Creditsafe's research found construction companies are paying their bills two days earlier — an average of 9.5 days past due instead of 11.5 day — compared to one year ago.
Finally, Creditsafe also found the number of U.S. construction firms in business has dropped 2.3%, which indicates a sign of strength for the companies remaining in the market.
(more on the financial health improvement of U.S. construction firms...)
