The Coface Group, a worldwide leader in credit insurance, offers companies around the globe solutions to protect them against the risk of financial default of their clients, both on the domestic market and for export. In 2015, the Group, supported by its 4,500 staff, posted a consolidated turnover of €1.490 billion. Present directly or indirectly in 100 countries, it secures transactions of 40,000 companies in more than 200 countries. Each quarter, Coface publishes its assessments of country risk for 160 countries, based on its unique knowledge of companies’ payment behaviour and on the expertise of its 660 underwriters and credit analysts located close to clients and their debtors. In France, Coface manages export public guarantees on behalf of the French State.
Fitch Ratings issued, on September 29th, 2016, a public statement on Coface in which the organization certifies the Group’s Insurer Financial Strength (IFS) rating at ‘AA-,’ Outlook Stable.
Fitch highlights that this confirmation mirrors Coface’s “excellent business profile and geological broadening in credit insurance and its strong financial position.”
Emphasizing its view on Coface’s hazard profile, considered “sufficient,” Fitch underlined that the Group “profits by (..) adaptability to conform the terms and states of its arrangements and to a great extent concentrates on the short-tail business.”
This certification takes after the dispatch of Coface’s new 3-year key planFit to Win.
In this unique circumstance, “Fitch expects that Coface keeps up a decent endorsing execution over the cycle, coming about because of the gathering’s stricter guaranteeing rules and concentrate on gainfulness versus development.”
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