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

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

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

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

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

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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Poland Payment Survey: reduced payment delays, but a challenging outlook

Despite the economic slowdown, Coface’s latest survey on business payments in Poland shows that payment delays have systematically shortened since 2017 – but the impact of the coronavirus outbreak on the Polish economy remains to be seen.

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COFACE CAPITALIZES ON ITS STRATEGIC SUCCESSES AND LAUNCHES BUILD TO LEAD, ITS NEW 2023 STRATEGIC PLAN

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Political and environmental risks are the main threats facing businesses in 2020

As Coface launches the 2020 edition of its Country & Sector Risks Handbook, Chief Economist Julien Marcilly today presents the main threats for the global economy in 2020 at the Coface Country Risk Conference in Paris.

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Coface introduces CRAFT, a new forecasting tool to estimate growth in the Eurozone

Recession or slight decline, CRAFT provides the keys to the slowdown in the major economies of the Eurozone.

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2019 survey on company payments in Germany: turn of the tide

85% of companies report longer payment terms in 2019 vs 2017

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Coface Barometer: general slowdown in the global economy despite central banks’ actions

With business morale being affected by a summer marked by a multiplication of areas of political uncertainty around the world, it seems likely that 2020 will be a year of economic decline.

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Agri-food sector outlook: in a global economy marked by protectionist tensions, what does the future hold?

Central to the current trade tensions, notably between the USA and China, the global agri-food sector is impacted by knock on effects, notably via downward trends on the prices of key agri-food commodities, such as soybean. Coface has conducted an in-depth analysis of future trends in this market.

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The "Made in Russia" strategy: a limited instrument for economic diversification

Faced with fluctuations in hydrocarbon prices and economic sanctions from Western countries, Russia has developed a strategy that favours "Made in Russia" - but the results have remained mixed.

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Netherlands: What is the secret of Dutch trade?

Rising protectionism in China and the United States, Brexit, contracting world trade... despite all the clouds on the horizon, the Dutch economy remains surprisingly bright.

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Insolvencies in Central and Eastern Europe: despite an increasingly difficult global economic context, the situation remains positive

The Central and Eastern European region has experienced unparalleled growth in the European Union. However, a slowdown is expected in the coming years.

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Coface publishes CEE Top 500 companies

The international credit insurance company presents its eleventh annual study on the biggest 500 companies in Central and Eastern Europe – the Coface CEE Top 500. It ranks businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The economic development of the CEE Top 500 is representative of the market trend in the entire region.

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GCC: tight financial conditions for businesses feed alternative sources of financing

Despite improving economic performances across the Gulf Cooperation Council (GCC), monetary and financial conditions remain tighter compared with before 2015. Access to financing remains one of the key issues for companies, particularly for small- and medium-sized enterprises (SMEs). Loan growth in the region has recovered somewhat thanks to higher oil prices, but it remains below its historical average.

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Coface delivers record first semester in riskier economy

Net income up 25% at €78.5m, RoATE at 9.6% and Partial Internal Model submitted

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Asia Corporate Payment Survey 2019: Deteriorating payment trends amid trade war woes

Coface’s 2019 Asia Corporate Payment Survey covered over 3,000 companies in nine economies (Australia, China, Hong Kong, India, Japan, Malaysia, Singapore, Thailand and Taiwan). 63% of companies surveyed stated that they experienced payment delays in 2018. The length of payment delays increased to 88 days on average in 2018, compared to 84 days in 2017. The length of payment delays was highest in China, Malaysia and Singapore; as well as the energy, construction and ICT sectors.

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Coface Barometer - Trade tensions return to the forefront of the global economy

US/China trade war, struggling automotive sector, slower growth in emerging economies... the second quarter of 2019 highlights a global economic slowdown

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