News & Publications

News & Publications

News

COVID-19 swings the spotlight back onto emerging countries’debt

04/29/2020

While the focus has mainly been on China, Europe and the USA so far, the consequences of the Coronavirus pandemic are likely to be even more severe in emerging countries.

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First quarter shows solid operational performance but is impacted by the initial effects of the COVID-19 crisis

04/23/2020

Xavier Durand, Coface CEO, commented: “The coronavirus crisis presents an unprecedented shock for our economies and for the credit insurance industry. First and foremost, I am very proud of our teams’ successful efforts to continue supporting our customers despite the containment measures (...)"

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COFACE BAROMETER: COVID-19 - HEADING TOWARDS A SUDDEN GLOBAL SURGE IN BUSINESS INSOLVENCIES

04/06/2020

mediumAt first, the COVID-19 epidemic in China only affected a limited number of value chains – but it has since turned into a global pandemic. Its repercussions have created a double shock – supply and demand – that is affecting a large number of industries all over the world. The uniqueness of this crisis makes comparisons with the previous ones useless, as they all had financial origins (e.g. global credit crisis of 2008-09, great depression of 1929). The question is no longer which countries and sectors of activity will be affected by this shock, but rather which few will be spared.

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FITCH PLACES COFACE ON RATING WATCH NEGATIVE

03/31/2020

The ratings agency estimates that the adverse effects of the coronavirus pandemic will have a negative impact on the trade credit insurance industry, and that it is now more likely that Coface’s profitability, as measured by Fitch, will reach a level no longer compatible with the current rating.

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REVIEW OF THE CREDIT INSURANCE SECTOR BY MOODY'S

03/27/2020

The rating agency Moody's confirmed Coface’s Insurance Financial Strength (IFS) A2 rating on 27 March 2020. The outlook for this rating has been changed to negative.

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