Created using OpenAI’s DALL·E (2025)

who (should be concerned about cyber risks when it comes to credit checks)?

Businesses of all sizes, particularly those seeking lines of credit, should be concerned about how cyber risks factor into credit assessments. Financial institutions, including banks, credit rating agencies (e.g. Fitch and Moody’s), and lenders are increasingly incorporating cybersecurity considerations into their credit risk evaluations. This means that companies with weak cybersecurity practices or a history of breaches may face challenges in securing favourable credit terms or even getting approved for loans.

Small and medium-sized enterprises (SMEs) are especially vulnerable, as they often lack the resources to implement robust cybersecurity measures. However, large corporations are also under scrutiny, particularly those in industries that are especially prone to cyberattacks such as healthcare, finance, and retail (i.e. those who control large amounts of sensitive data).

what (do cyber risks have to do with credit checks)?

When assessing a company’s creditworthiness, lenders are increasingly evaluating factors like:

• The robustness of the company’s cybersecurity infrastructure and management systems (e.g. ISO 27001, ISO 22301, TISAX, PCI DSS etc.)

• Its compliance with data protection- (e.g. GDPR, nDSG) and other relevant regulations (e.g. SOX 404, DORA)

• The frequency and severity of past cyber incidents.

• Its ability to recover from cyberattacks (cyber resilience).

A strong cybersecurity framework can therefore positively influence a company’s creditworthiness by demonstrating operational stability and risk management capabilities – a trend which will no doubt continue to reinforce itself as cyberattacks intensify and as credit agencies and lenders pay increasing attention to the issue of cyber risks.

when (will this trend become more significant)?

The short answer is that, in many places, it already is significant – and where it isn’t, it’s likely just a matter of time. In the U.S., UK, and Canada for example, factoring cyber risks into credit assessments is already a common consideration when conducting credit checks. And if other trends are anything to go by, then lenders across the world (especially in the EU and the DACH region) will likely follow suit in due course. As cyber threats continue to escalate in frequency and sophistication, financial institutions are likely to place ever greater emphasis on cybersecurity in their lending decisions.

This shift is being driven by:

• Increasing regulatory focus on cybersecurity across industries.

• The rising cost of cyber incidents, which directly affect the financial health of companies.

• Growing awareness among lenders about the relationship between operational resilience and credit risk.

Overall, it is safe to say that businesses both in the DACH region and across the world should anticipate that within the next few years, comprehensive cybersecurity assessments will become a standard part of the credit evaluation process.

why (does this matter for businesses)?

Cyber risks matter for businesses seeking credit because weak security can directly impact their financial health and perceived creditworthiness. A company that suffers a major cyberattack may face operational disruptions, reputational damage, regulatory fines, and costly recovery efforts – all of which can impair its ability to repay loans (assuming it isn’t brought to its knees outright).

Given that loans can be key for facilitating a business’ operations (e.g., securing working capital, funding expansion and growth, or purchasing inventory and equipment) and considering that most companies’ cyber-readiness leaves something to be desired, the issue of cyber risk and its impact on credit worthiness is far from trivial.

By proactively investing in cyber resilience, companies may find themselves in a stronger negotiating position, potentially qualifying for better loan terms, access to larger lines of credit, or other business advantages. Additionally, cybersecurity is increasingly being viewed as a unique selling point, as highlighted in recent publications like the NTNU’s work on business-focused cybersecurity (see our article on cybersecurity as a corporate USP for more on this).

For lenders, incorporating cyber risk into credit assessments is a crucial step in managing their own risk exposure. By evaluating a borrower’s cybersecurity posture, lenders can better anticipate and mitigate the potential losses that might result from defaults triggered by cyber-related disruptions. This approach not only aligns with the growing regulatory expectations around comprehensive risk management but also serves a broader purpose. By encouraging and, in some cases, requiring borrowers to adopt stronger cybersecurity practices, lenders can help promote greater cyber resilience across the business ecosystem – a development that benefits both individual institutions and the wider economy.

In summary, businesses would be well advised to recognise that their cybersecurity practices are no longer merely an internal concern. Rather, they are becoming a critical factor that influences their external financial relationships. Ultimately, strengthening cybersecurity not only protects against threats but also enhances access to capital in an increasingly interconnected digital economy.

find out more:

• Global Institute of Credit Professionals: Impact of Cybersecurity Risk on Corporate Creditworthiness
• Moody’s Analytics: Cyber Risk and Creditworthiness: A New Era of Risk Assessment
• Conceal.io – The Growing Impact of Cybersecurity on Credit Ratings: What Companies Need to Know
• Washington Post – Credit ratings increasingly looking at cybersecurity

interested in what your cyber resilience means for your next credit check?

Joshua Bucheli (cyberunity AG) and John Corona (Osmond GmbH) look forward to hearing from you!

stay tuned for more – look out for our next cyberbyte where we will revisit the issue of Switzerland’s new Federal Act on Information Security and look at past deadlines you may have missed as well as those that are on the horizon.