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China: rising payment risks in construction and energy sectors despite stronger economic outlook

May 26, 2021
Coface expects an increase in bond defaults and insolvencies in 2021, especially among sectors that accumulated higher cash-flow risks in 2020 amid a slowdown in credit growth.

Germany: More insolvencies in the pipeline, despite significant aid

May 11, 2021
Insolvencies in Germany dropped significantly in 2020 compared to 2019 - despite the worst recession since 2009.

Coface records a good start to the year with a net income of €56.4m

April 27, 2021
Coface records a good start to the year with a net income of €56.4m ; Turnover: €378m, up 4.2% at constant FX and perimeter.

Coface Barometer Q1 2021: US leads the global recovery, emerging economies lag behind

April 27, 2021
More than a year after the start of the pandemic, global economic trends are uneven due to lingering uncertainties around the spread of COVID-19. The acceleration of the vaccination process, as well as its effectiveness, are key to an economic recovery

Fitch raises the outlook for Coface’s ratings to “stable”

April 20, 2021
The rating agency Fitch, on 20th April 2021, affirmed Coface AA- Insurer Financial Strength (IFS) rating. The agency also removed the Rating Watch Negative. The outlook is now stable.

German State Aid Programme comes to planned end on June 30th

April 20, 2021
The joint state aid programme of the German federal government and German trade credit insurers, set up to stabilize supply chains during the pandemic, will come to its planned end on June 30, 2021. Based on all parties analysis of the current market situation, an extension is not necessary. Read our full press release.

No easy end to ongoing China-Australia tensions

April 13, 2021
The China-Australia bilateral relationship deteriorated sharply over 2020, with China imposing trade restrictions on a number of Australian exports. But there are growing concerns that an escalation of bilateral tensions will see China hardening its stance towards Australia.

United States: Stimulus plan paves the way for record trade deficit

April 6, 2021
As the world's largest importer, and second largest exporter of manufactured goods, the United States has had a trade deficit since the early 1970s. Using an analysis based on historical estimates of a potential trade balance, Coface estimates that the deficit could grow by 56 billion dollars as a result of the stimulus plan.

Governance change – Declan Daly appointed Coface Group COO

March 24, 2021
Coface is pleased to announce that Declan Daly has been appointed Chief Operating Officer of the Coface Group, effective as of April 1, 2021.

The paradox of corporate insolvencies in Europe: miracle and mirage

March 16, 2021
In 2020, and even if the real impact of the COVID-19 crisis remains uncertain, the number of insolvencies actually fell in all major European economies. According to our research, the gap between the expected deterioration of the companies’ financial health and the number of insolvencies suggests that there is a high number of “hidden insolvencies” that have been postponed, rather than prevented.

Diversification is one of the many effects of oil price volatility on Middle Eastern and African oil producers

March 11, 2021
The COVID-19 pandemic’s negative impact on global GDP growth and global trade volumes has caused a sharp drop in oil prices in the spring of 2020. This price drop, even if temporary, has affected Middle Eastern and African oil exporters differently, in line with their national output’s dependence on oil, as well as their fiscal strength and international reserves. Although Coface expects oil prices to average USD 60 per barrel in 2021, their volatility will remain a challenge for producing countries.