Credit analysis is a process that a credit analyst must do to assess a company’s creditworthiness. Credit analysis is used to establish the level of risk related to the non-fulfillment of obligations of an individual company. The credit analysis of a company is performed by banks, bond investors and analysts in order to assess the company’s ability to repay the loan. Creditworthiness assesses the efficiency of the company's operations. The credit rating is based on the parameters of stability and efficiency of the company's operations and their implementation is reviewed through financial statements. Risk assessment models greatly help to be able to make a decision on corporate lending. Credit analysis in this paper was conducted on the example of a small company in the Republic of Croatia, and that is Mon Perin d.d. After conducting an analysis based on information from the balance sheet, income statement and after calculating financial indicators and risk assessment models, a conclusion was made on the creditworthiness of the company. The financial indicators considered are indicators of activity, efficiency, liquidity and indebtedness. Of the risk assessment models, the Altman Zscore model, the Chesser model, the Springate model and the Zmijewski model have been practically processed, while the Fulmer model and the Beaver model have only been theoretically explained. The hypothesis of this paper is that the use of credit risk assessment models improves the quality of credit analysis, provides a more accurate risk assessment and allows the creation of recommendations aimed at reducing the risk of business operations in the future. Upon completion of the credit analysis, it was established that the stated hypothesis is confirmed. :