A not so uncommon scenario. Let us say that there are 2 companies. Company ‘A’ run by Reuven and Shimon (clearly a Jewish company) and company ‘B’ run by Mark and John (clearly a non-Jewish company). Along comes someone (Jewish) and makes statements like… “I always deal with company B, they seem to be more honest, they have better service, more professional, etc…” Now, it’s clear that the intent is to harshly criticize Company A, even though A is not mentioned. Could that be problematic?
If it is said in a derogatory way, and not just that this company also has good service but the other company is better, then it would be lashon hora.