--- type: "nimble-agent" agent: "credit-risk" agent_id: "wsa_71d8b395623b4cc88984f41636ed01b9" description: "Get a company's credit picture: financials, ratings, debt events, payment issues and distress signals, with a risk call." use_when: "A sourced first read on whether a customer, supplier, borrower or issuer can pay, with a risk call that follows from cited items." default_effort: "high" cost_per_run: "$0.50 at high effort" --- # Nimble: Credit risk agent Get a company's credit picture: financials, ratings, debt events, payment issues and distress signals, with a risk call. ## Agent instructions Run this ready-made agent by its ID. It already carries the research skill and output schema below, so the input only needs the company, by its legal name if you have it. - Agent page: [Credit risk agent](https://online.nimbleway.com/web-search-agents/wsa_71d8b395623b4cc88984f41636ed01b9) - Agent ID: `wsa_71d8b395623b4cc88984f41636ed01b9` - Default effort: `high` - Docs: [Web Search Agents](https://docs.nimbleway.com/nimble-sdk/web-search-agents/overview) ## Skill Where credit evidence lives: - Financials: public companies file 10-K, 10-Q, 20-F or annual reports. Private companies: filed accounts in UK Companies House and EU registries, or statements by the company or press (label who said it). Revenue, EBITDA, cash, total debt and available liquidity (revolver, runway) are the core numbers. - Ratings: S&P, Moody's, Fitch, DBRS and KBRA press releases, including outlook changes. - Debt events: new financings, refinancings, covenant amendments or breaches, missed coupons, defaults, distressed exchanges, bankruptcy filings (PACER, Chapter 11 claims agent sites, national insolvency registers such as the UK Gazette). - Payment behaviour: liens, judgments and collection suits on court and UCC records; supplier complaints in trade press. - Distress signals: layoffs, hiring freezes, closures, CFO departures, auditor changes, going-concern language, large customer losses. Definitions: low, moderate, elevated and high describe the likelihood the company cannot meet its obligations in the next 12 months. A risk call should follow from cited items, not from the industry. Pitfalls: a parent's or subsidiary's figures are not the company's. Ratings apply to a specific issuer entity. Citations and evidence: - source_url is one full public https URL: the page the value was read on. Never an internal file path or source id. A value from two pages is two values. - as_of is the date the source states or was published, not today's date. - A value nobody published is null, listed in missing_fields. Not an estimate from memory. - Entity drift is the most common error: a namesake, a parent, a subsidiary or a similarly named company. Match on domain, registry number, HQ city or ticker before using a page. ## Request options - `input` (string, required): the company to assess, ideally by its legal name. Example: `Assess the credit and counterparty risk of Carvana Co.` - `effort` (string): `low`, `medium`, `high` or `x-high`. Defaults to `high`. The examples on the page ran at `high`. ## Request shape Call `POST https://sdk.nimbleway.com/v2/agents/wsa_71d8b395623b4cc88984f41636ed01b9/runs` with your Nimble API key. Poll `GET .../runs/{run_id}` until `is_active` is false, then read `GET .../runs/{run_id}/result`. ```json { "input": "Assess the credit and counterparty risk of Carvana Co.", "effort": "high" } ``` ### Python ```python import os, time from nimble_python import Nimble nimble = Nimble(api_key=os.environ["NIMBLE_API_KEY"]) agent_id = "wsa_71d8b395623b4cc88984f41636ed01b9" # Nimble's credit risk agent run = nimble.agents.runs.create( agent_id, input="Assess the credit and counterparty risk of Carvana Co.", effort="high", ) while run.is_active: time.sleep(10) run = nimble.agents.runs.get(run.id, agent_id=agent_id) result = nimble.agents.runs.result(run.id, agent_id=agent_id) print(result.output.content) ``` ### TypeScript ```typescript import Nimble from "@nimble-way/nimble-js"; const nimble = new Nimble({ apiKey: process.env.NIMBLE_API_KEY }); const agentId = "wsa_71d8b395623b4cc88984f41636ed01b9"; // Nimble's credit risk agent let run = await nimble.agents.runs.create(agentId, { input: "Assess the credit and counterparty risk of Carvana Co.", effort: "high", }); while (run.is_active) { await new Promise((r) => setTimeout(r, 10000)); run = await nimble.agents.runs.get(run.id, { agent_id: agentId }); } const result = await nimble.agents.runs.result(run.id, { agent_id: agentId }); console.log(result.output.content); ``` ### cURL ```sh AGENT_ID=wsa_71d8b395623b4cc88984f41636ed01b9 # Nimble's credit risk agent curl -X POST "https://sdk.nimbleway.com/v2/agents/$AGENT_ID/runs" \ --header "Authorization: Bearer $NIMBLE_API_KEY" \ --header 'Content-Type: application/json' \ --data '{"input":"Assess the credit and counterparty risk of Carvana Co.","effort":"high"}' # poll until is_active is false, then read the result curl "https://sdk.nimbleway.com/v2/agents/$AGENT_ID/runs/$RUN_ID" --header "Authorization: Bearer $NIMBLE_API_KEY" curl "https://sdk.nimbleway.com/v2/agents/$AGENT_ID/runs/$RUN_ID/result" --header "Authorization: Bearer $NIMBLE_API_KEY" ``` ### CLI ```sh AGENT_ID=wsa_71d8b395623b4cc88984f41636ed01b9 # Nimble's credit risk agent RUN_ID=$(nimble agents:runs create \ --agent-id "$AGENT_ID" \ --input 'Assess the credit and counterparty risk of Carvana Co.' \ --effort high | jq -r .id) # repeat while "is_active" is true, then read the result nimble agents:runs get --agent-id "$AGENT_ID" --run-id "$RUN_ID" nimble agents:runs result --agent-id "$AGENT_ID" --run-id "$RUN_ID" ``` ## Response data The result has `run` and `output`. The report is in `output.content`: `risk_call` (low, moderate, elevated or high) and `risk_rationale`; `ownership` as `{ value, as_of, source_url }`; `financials` as a list of `{ metric, period, value, currency, stated_by, source_url }`; `credit_ratings`, `debt_events`, `payment_behaviour` and `distress_signals` as lists of `{ date, summary, source_url }`; `missing_fields` lists what no page could verify. `output.sources` lists the pages read and `output.trust` grades confidence per claim. Example (Carvana, every list trimmed to 3 items, 5 sources): ```json { "run": { "id": "task_run_57276f3409ac4b8c9f57707204eb8990", "status": "completed", "effort": "high", "started_at": "2026-11-11T10:38:18.666519Z", "completed_at": "2026-11-11T10:44:29.830828Z" }, "output": { "type": "json", "content": { "company": "Carvana Co. (NYSE: CVNA), Delaware corporation, CIK 0001690820, 300 E. Rio Salado Parkway, Tempe, AZ 85281", "ownership": { "as_of": "2026-07-30", "value": "Publicly traded on NYSE under CVNA; controlled company under NYSE rules. Dual-class structure: Class A one vote, Class B ten votes held by the Garcia parties (Ernest Garcia III, Chairman/CEO, and Ernest Garcia II, largest individual holder; Garcia II economic stake ~7%). Garcia parties control ~83% of voting rights per Fitch; related-party transactions with DriveTime Automotive Group and Verde Investments (Garcia family vehicles).", "source_url": "https://fitchratings.com/research/corporate-finance/fitch-assigns-first-time-idr-of-bb-to-carvana-co-outlook-stable-30-07-2026" }, "risk_call": "moderate", "financials": [ { "value": 8040, "metric": "Total revenue, Q3 2026 (all-time record, +42% YoY)", "period": "Q3 2026 (quarter ended 2026-09-30)", "currency": "USD millions", "stated_by": "Carvana press release, Oct 28, 2026", "source_url": "https://press.carvana.com/carvana-announces-record-third-quarter-2026-results" }, { "value": 483, "metric": "Net income, Q3 2026 (margin 6.0%, +$220M YoY; includes $53M pretax expense on early note redemption)", "period": "Q3 2026", "currency": "USD millions", "stated_by": "Carvana press release, Oct 28, 2026", "source_url": "https://press.carvana.com/carvana-announces-record-third-quarter-2026-results" }, { "value": 800, "metric": "Adjusted EBITDA (non-GAAP), record, margin 10.0%", "period": "Q3 2026", "currency": "USD millions", "stated_by": "Carvana press release, Oct 28, 2026", "source_url": "https://press.carvana.com/carvana-announces-record-third-quarter-2026-results" } ], "debt_events": [ { "date": "2023-09-01", "summary": "Distressed debt exchange closed: 96.41% of noteholders exchanged $5.520B of senior unsecured notes due 2025-2030 for new senior secured notes due 2028-2031 ($981M due Dec 2028, $1,471M due Jun 2030, $1,741M due Jun 2031), secured by substantially all Carvana and ADESA assets. Cut total principal by $1.326B, cut required cash interest by $456M/yr over two years, reduced combined 2025/2027 maturities by 88%; paired with a $350M equity raise and $341M cash to 2025 noteholders.", "source_url": "https://investors.carvana.com/~/media/Files/C/Carvana-IR/documents/debt-exchange-summary.pdf" }, { "date": "2024", "summary": "Redeemed $470M principal of the 2028 senior secured notes; raised $1.3B through prior at-the-market equity facility in 2024 (company retains a $1B ATM facility).", "source_url": "https://investing.com/news/stock-market-news/carvana-co-credit-rating-upgraded-at-sp-due-to-improved-performance-93CH-3929628" }, { "date": "2025-03-17", "summary": "Securitization issuance: Carvana Auto Receivables Trust 2025-P1 publicly registered asset-backed notes of $602.78M (Class A-1 through D), underwritten by Deutsche Bank Securities; ongoing ABS funding channel (Carvana Receivables Depositor LLC — affiliated securitization entity, not the parent issuer).", "source_url": "https://sec.gov/Archives/edgar/data/1770373/000177037325000014/crvna2025-p1xform8xkrepric.htm" } ], "credit_ratings": [ { "date": "2025-03-13", "summary": "S&P Global Ratings upgraded Carvana Co. issuer credit rating to 'B' from 'B-', outlook positive; unsolicited senior secured issue rating raised to 'B' (recovery '4', ~40%); senior unsecured to 'CCC+' (recovery '6', ~0%). S&P-adjusted leverage ~5x in 2024 vs ~17.8x in 2023; liquidity viewed as adequate (cash $1.72B at end-2024; sources at least 8x uses over 12 months).", "source_url": "https://spglobal.com/ratings/en/regulatory/article/-/view/sourceId/101616201" }, { "date": "2025-03-27", "summary": "Moody's Ratings upgraded Carvana Co. corporate family rating to B3 from Caa1; B3-PD probability of default; senior secured notes to B3, senior unsecured to Caa2; speculative-grade liquidity to SGL-2 from SGL-3; outlook positive. Debt/EBITDA improved to ~4.2x at end-2024 from 18.8x at end-2023; ~$1.7B unrestricted cash at end-2024.", "source_url": "https://investing.com/news/stock-market-news/carvanas-corporate-family-rating-upgraded-by-moodys-to-b3-93CH-3954803" }, { "date": "2025-10-02", "summary": "Moody's Ratings upgraded Carvana Co. corporate family rating to B2 from B3, outlook positive; senior secured notes to B2, senior unsecured to Caa1. Debt/EBITDA ~3.2x and EBITDA-capex/interest ~2.8x for LTM ended 2025-06-30; ~$1.86B unrestricted cash at 2025-06-30; transitioned to full cash interest in August 2025 after ~$320M PIK (LTM).", "source_url": "https://investing.com/news/stock-market-news/moodys-upgrades-carvanas-credit-rating-to-b2-outlook-positive-93CH-4269503" } ], "missing_fields": [ "Exact date and press release for S&P's interim upgrade of Carvana from 'B' to 'BB-' (occurred between May 2025 and the Mar 3, 2026 affirmation; this affirmation page does not state the prior action date, and the aggregator page holding it could not be opened)", "Any Moody's rating action after Oct 2, 2025 (B2, positive) — none found in searched sources as of 2026-11-11; this page records the latest confirmed action", "Available borrowing capacity under warehouse/receivables facilities and floor plan as of 2026-09-30 (values not legible in this 10-Q filing; latest dated figure is Fitch's $2.1B available under receivables facilities at 2026-03-31)" ], "risk_rationale": "Carvana is a speculative-grade credit whose probability of failing to meet obligations in the next 12 months is low by hard numbers, but whose single-channel funding model, controlled-company governance and 2023 distressed-exchange history keep it out of the low bucket — hence moderate. Evidence: as of 2026-09-30 (10-Q) cash was $3,049M against total debt of ~$5,157M ($283M current + $4,874M long-term), and the CFO reported record 0.8x net debt/TTM Adjusted EBITDA and 6.9x EBITDA/interest coverage; the next major maturity (the $1.66B Term Loan B that replaced the 9.00% 2030 secured notes) sits in 2030 after the August 2026 refinancing cut cash interest ~$45M/yr. Q3 2026 was a record across the board (revenue $8.04B +42%, net income $483M, Adjusted EBITDA $800M at 10.0% margin, 217,385 units), and all three agencies have been upgrading: Moody's Caa1→B3 (Mar 2025) →B2 positive (Oct 2025); S&P B-→B (Mar 2025) →BB- affirmed with positive outlook and secured raised to BB (Mar 2026); Fitch first-time BB- Stable (Jul 2026). Carvana carries no financial covenants, moved to fully cash interest in August 2025, and showed no missed coupons or going-concern language. Offsetting factors: the company defaulted via a distressed exchange as recently as September 2023; profitability leans on monetizing finance receivables to a concentrated buyer group (S&P explicitly flags buyer-cessation risk), with margin compression already visible (EBITDA margin 10.0% vs 11.3% YoY; ~$200/unit fuel/rate headwind); governance is concentrated (Garcia parties ~83% of votes, Fitch 'deficient' governance, DriveTime related-party dealings); and there is ~$2.1B net inventory build YTD supporting a 1.5M-unit capacity bet. Full-year 2026 Adjusted EBITDA is guided to the higher end of $2.7–3.0B. Net: a counterparty can transact with Carvana on normal terms, monitoring the ABS/loan-sale channel and GPU trajectory.", "distress_signals": [ { "date": "2022-05-10 to 2023-01-13", "summary": "Historical distress: 4,000 jobs cut across tracked rounds — 2,500 (May 10, 2022), 1,500/8% of staff (Nov 18, 2022), further layoffs Jan 13, 2023 'amid slowing sales and debt squeeze' (per TechCrunch/WSJ via SIVL tracker).", "source_url": "https://gosivl.com/companies/carvana-layoffs" }, { "date": "2026-04-21", "summary": "Most recent tracked workforce reduction, affecting Atlanta workers; assessed low severity (per bizjournals.com via SIVL tracker; last verified 2026-04-21).", "source_url": "https://gosivl.com/companies/carvana-layoffs" }, { "date": "Q3 2026", "summary": "Margin compression inside record results: Adjusted EBITDA margin fell to 10.0% from 11.3% a year earlier; operations expense +$109/unit (fuel/logistics), advertising +$45/unit, other GPU -$299; ~$200/unit headwind from fuel prices and rising benchmark rates; inventory up ~$1.0B YTD to $3.46B to support 1.5M-unit capacity buildout.", "source_url": "https://finance.yahoo.com/markets/stocks/articles/carvana-co-cvna-q3-2026-090838945.html" } ], "payment_behaviour": [ { "date": "2026-10-29", "summary": "BBB complaint (resolved): a customer selling a vehicle to Carvana reported Carvana 'failed to pay me the money for it. $5498.01 is owed'; Carvana confirmed the amount and said its treasury team was reviewing the check and arranging reissue — an isolated delayed-payment-to-seller data point.", "source_url": "https://bbb.org/us/az/tempe/profile/online-car-dealers/carvana-llc-1126-1000037076/complaints" }, { "date": "2025-01-14", "summary": "Connecticut AG settlement after hundreds of consumer complaints involving delayed payments to sellers and extended title/registration delays: $1M consumer restitution fund plus $500K penalty to the state ($250K suspended if compliant). Carvana cooperated fully.", "source_url": "https://wtnh.com/news/connecticut/ag-tong-announces-1-5-million-settlement-with-used-car-dealership-carvana" }, { "date": "3 years to 2026-10-30", "summary": "5,043 BBB complaints against Carvana LLC in the last 3 years (1,588 in last 12 months), predominantly service/repair issues (3,456); not BBB accredited. Operating subsidiary Carvana LLC, not the listed issuer.", "source_url": "https://bbb.org/us/az/tempe/profile/online-car-dealers/carvana-llc-1126-1000037076/complaints" } ] }, "confidence": null, "sources": [ { "url": "https://press.carvana.com/carvana-announces-record-third-quarter-2026-results", "title": "Carvana Announces Record Third Quarter 2026 Results" }, { "url": "https://finance.yahoo.com/markets/stocks/articles/carvana-co-cvna-q3-2026-090838945.html", "title": "Carvana Co (CVNA) Q3 2026 Earnings Call Highlights: Record $8 Billion ..." }, { "url": "https://sec.gov/Archives/edgar/data/0001690820/000169082026000067/cvna-20260930.htm", "title": "https://www.sec.gov/Archives/edgar/data/0001690820/000169082026000067/cvna-20260930.htm" }, { "url": "https://fool.com/earnings/call-transcripts/2026/10/29/carvana-cvna-q3-2026-earnings-call-transcript", "title": "Carvana (CVNA) Q3 2026 Earnings Call Transcript - The Motley Fool" }, { "url": "https://press.carvana.com/carvana-announces-successful-upsize-and-pricing-of-1-66b-senior-secured-term-loan-b-facility", "title": "Carvana Announces Successful Upsize and Pricing of $1.66B Senior ..." } ] } } ```