Credit reliability among companies improved from August to September as a pre-holiday spurt in business boosted companies' cash position to pay off credit, research company Business Data Israel said Sunday. While the number of mutually agreed credit days increased to 89 days in September from 88 the previous month, the average arrears period improved to 11 from 13. The result was that the total days it took to pay off credit in September was 100, one day better than August.
The BDI report showed that the chemicals and pharmaceutical industries had the best credit performance for the month with an average three days late period, while garage and car parts businesses were the least reliable being on average 33 days late on their payments.
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