Jan 2 2007
Two key ratings agencies, Fitch Ratings and Standard & Poor’s have upgraded the major insurance entities of Coface group, making it the highest rated credit insurer in the world. The Fitch Rating has changed to Insurer Financial Strength 'AA+' from 'AA' and Issuer Default rating to 'AA' from 'AA-‘, while the Standard & Poor’s rating has been raised to ‘AA’ from ‘AA-’. Coface is additionally rated ‘Aa3’ by Moody’s.

Coface is one of the world’s largest credit insurers with an estimated 18% global market share and a leading export credit insurer with a 25% market share. The upgrades by Fitch and Standard & Poor’s recognise the Group’s dominant position in Europe, built both through acquisitions and organic growth, and the competitive advantages gained from its excellent global network, consistent strategy and IT systems that allow streamlined underwriting under strict guidelines as well as a strong standing in the complementary core businesses of credit information, factoring and debt collection.

The ratings upgrades will underline the confidence companies in the UK and Ireland have in Coface’s strengths and abilities.