The rating agency Fitch affirmed today Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.
Fitch has also affirmed Coface SA's Long-Term Issuer Default Rating (IDR) at 'A+', with a stable outlook.
The rating action reflects “Coface’s very strong company profile and capitalisation, as well as a strong profitability through the cycle”.
The stable outlook reflects Fitch’s view that “Coface continues to maintain sufficient rating headroom to withstand weaker macro-economic conditions and rising corporate default risk over the next 12-24 months”.
In Fitch’s press release, the rating agency recognises Coface’s “very strong, well established and geographically diversified franchise in the global trade credit insurance sector”. Fitch highlights also that “factoring, information services and other fee-based activities enhance Coface’s business diversification”.
Fitch views Coface’s financial performance “as strong across the economic cycle, underpinned by underwriting profitability and effective risk management and reinsurance”.
