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29/06/2018
Country risk

All the News

02/10/2017
Country risk

Morocco : Extended payment periods across practically all sectors

Morocco Corporate Payment Survey, first half of 2017: Extended payment periods across practically all sectors: 99 days on average in 2017, up from 82 days in 2016.

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28/09/2017
Country risk

Financing businesses: the bond market is turning into a "spare tyre"...

Corporate bond financing: an advantage in times of crisis?

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27/09/2017
Country risk

Country and sector risks: Europe remains the big winner in the world economic upturn

World economic growth might not yet be at its highest (2.9% in 2017 and 2018), but there can be no denying that there are healthy signs.

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11/09/2017
Country risk

Infrastructure: the Achilles’ heel of development in Latin America

Weak development of infrastructure in the region. Poor record in improving investment rates

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07/09/2017
Country risk

Coface announces CEE Top 500 companies: Automotive & transport sector is the regional leader. Oil & gas continues downturn, losing number one posit...

2016 – a mixed year for CEE. The labour market boomed, while turnover and net profit of the largest companies decreased by -0.6% and -3.1% / CEE Top 500 companies increased their workforces in 2016. Lower regional unemployment rates / Poland (+3.3% in turnover) remains the biggest player, followed by Hungary (-11.5%) and the Czech Republic (-2.2%) / Sectors: automotive industry up (+8.6% in turnover), oil & gas sector down (-5.6%)

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07/09/2017
Country risk

Central & Eastern European insolvencies overview

Company insolvencies dropped by 14% in 2015 and 6% in 2016

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31/07/2017
Country risk

How could “Trumponomics” affect Latin America’s economies?

Political developments in the US have caused uncertainties over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions.

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20/07/2017
Country risk

GCC banks urged to fine-tune liquidity management in order to address new economic cycle - Coface Economic Report

Oil prices declined by around 75% between mid- 2014 and January 2016 (...)

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11/07/2017
Corporate news

Time for experts at Coface Country Risk Conference

After a year of political turmoil, Coface UK’s 2017 Country Risk Conference on 28 June in London gave businesses a welcome chance to hear informed views from recognised experts in economic and geopolitical risk.

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11/07/2017
Country risk

Asia Corporate Payment Survey 2016: Tail risks are on the rise

Coface’s latest annual payment survey covered 2,795 corporates in the Asia Pacific region, focusing on 8 markets: Australia, China, Hong Kong, India, Japan, Singapore, Taiwan and Thailand. The survey also traced the evolution of corporate payments in 11 sectors.

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04/07/2017
Sectors Risk

Sector risk assessments 2nd quarter 2017

12 Major sectors assessed worldwide

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04/07/2017
Sectors Risk

Country and sector risks worldwide

The second quarter of 2017 marked a new start for Europe, Russia and, on the sector side, for the automobile and agrofood industries in several countries (...)

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08/06/2017
Country risk

Brexit: Despite several shocks, the United Kingdom will remain attractive for businesses

Businesses have proven their resilience since the referendum, but a downturn in investments is starting to be seen.
The fall in growth (1.4% in 2017 and 1.2% in 2018) will lead to a rise in the number of business failures, of 8.7%1 and 8%1 respectively

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30/05/2017
Corporate news

Coface Country Risk Conference will help steer businesses through UK and global challenges

Coface UK’s next Country Risk Conference will provide an early chance for businesses to consider trade risks and opportunities at a critical time for the British economy.

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30/05/2017
Country risk

Russia is emerging from recession, but the structural constraints risk impeding its mid-term growth

The diversification of the Russian economy, made necessary by a slump in oil prices that is set to last, is coming up against structural constraints that may well have a deleterious effect on its mid-term growth.

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24/05/2017
Products news

Coface places digital transformation at the heart of its strategy with launch of new customer portal

Coface has launched its new customer portal and fully revamped CofaNet online credit insurance contract management tool. With the new solutions, customers will benefit from innovative features, unique access, customised content, advanced ergonomics, real time results displays and easier contacts.

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17/05/2017
Country risk

New Coface survey shows optimism among UAE non-oil private companies

Coface, the worldwide leader in trade credit management solutions and risk information services, has published its first-ever Credit Opinion Survey for the UAE region (...)

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03/05/2017
Country risk

Labour shortages in the Central and Eastern Europe region: an opportunity for households but a threat for local companies

Developments in Central and Eastern Europe (CEE) labour markets have been beneficial for households. Rising wages and low inflation, combined with improving consumer confidence, have led to lower unemployment rates and an increase in private consumption.

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02/05/2017
Corporate news

Coface enhances the customer experience

One of the priorities of Fit-to-Win, Coface’s three-year strategic plan, is to enhance the service we provide to our clients.

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30/03/2017
Country risk

Corporate payments improve in China in 2016 but ultra-long overdues are up under financial stress

A survey on corporate credit risk management, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of the respondent companies experiencing overdue payments in 2016 (...)

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29/03/2017
Country risk

Country and sector risks worldwide - Business confidence is picking up again, despite persistent political risk

Main economic surprise of early 2017: the rise in business confidence is perceptible, but is not yet generating a positive widespread upturn in country and risk assessments.

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29/03/2017
Country risk

Infographics : New political risk index for 159 countries

Conflicts grew by +100% between 2007 and 2015. 2017 likely to pay a heavy price, due to
intensification of armed conflicts

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28/03/2017
Sectors Risk

Infographics: Sector risk assessments - 1st quarter 2017

12 major sectors assessed worldwide

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27/03/2017
Country risk

New Coface Political Risk Index in 159 countries

The widespread rise in the political risk conceals mixed regional dynamics

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15/03/2017
Country risk

RMB depreciation, capital flow measures and new monetary stance: What are the implications for Chinese corporates?

The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.

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03/02/2017
Country risk

First Brazilian Corporate Payment Survey 2016

Payment experience affected by the bleak economic scenario.
75% of interviewed companies received payment extensions requests from their clients.

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24/01/2017
Country risk

2017: A year of political and banking risks for emerging countries

Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.

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24/01/2017
Country risk

Infografics - 2017: An economic upturn in the face of political risk

Four major risks for 2017 but some positives points...

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12/01/2017
Country risk

Poland Payment Survey: Payment delays pervade Polish corporates

Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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21/12/2016
Country risk

South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgrade

Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)

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20/12/2016
Country risk

After a series of shocks in 2015 and 2016, Turkey’s economy is coming to the end of its new “Tulip era”

Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.

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13/12/2016
Country risk

Uberisation of French economy: A positive impact on employment, but will it last?

France is one of the leaders in collaborative economics in Europe, with more than 50 companies in this field. Prior to 2012, an imbalance between supply and demand in traditional sectors.

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30/11/2016
Country risk

German Economy in 2017: Stable, but not staid

The signs for Germany’s further economic development are promising, with a high level of stability. Coface’s expectations for solid growth therefore come as little surprise.

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25/11/2016
Sectors Risk

Global sector risks in precarious balance

At the end of 2016, global sector trends remained mixed, including in the regions that until now have been relatively spared by the increase in risks. Over the whole year, across 12 sectors evaluated in six regions of the world, nearly half saw their assessments change. There were 23 downgrades for 10 upgrades.

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09/11/2016
Country risk

Mexico’s Economy: more difficult times ahead

In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5%, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.

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09/11/2016
Country risk

The first arrow of Abenomics: why is it not working?

Why did the yen depreciation, which occurred during the early success of the first arrow, not boost Japan’s merchandise export volumes?

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17/10/2016
Country risk

Infographics - Is political risk a new threat for the global economy?

European political calendar: crucial deadlines

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17/10/2016
Country risk

Rising political risks in developed countries: the sword of Damocles hangs over Europe’s major economies

Periods of economic crisis naturally lead to heightened political uncertainty and this aspect is crucial in assessing country risks.

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14/10/2016
Corporate news

Coface welcomes Fitch’s decision to affirm its AA- rating

Fitch Ratings issued, on September 29th 2016, a press release on Coface in which the agency affirms the Group’s Insurer Financial Strength (IFS) rating at 'AA-', Outlook Stable.

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14/10/2016
Sectors Risk

Further downgrades triggered by the Brexit shock and falling oil revenues

Global growth: stability in developed countries, slight improvements among emerging economies.

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26/09/2016
Country risk

Latin America: Why are manufacturing exports still lackluster?

Foreign trade is unlikely to be a main contributor to the growth of Latin American economies over the next few years.

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22/09/2016
Corporate news

Coface Fit to Win 3-year plan financial ambitions

Fit to Win plan to transform Coface into the most agile global trade credit partner in the industry, while evolving to a more efficient capital model.

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20/09/2016
Country risk

Moroccan company payments survey 2016

Morocco’s growth rate has slowed in 2016, after recording an increase of close to 4.5% in 2015.

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16/09/2016
Country risk

Short-term risk is reduced for the French automotive sector, but profound changes are ahead

The automotive sector has been upgraded to the best risk category
Private buyers are returning to the car market, driving up sales of new vehicles, which are expected to increase by 5.6% in 2016

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16/09/2016
Country risk

The French economy: a temporary pause in growth

Q2 impacted by external shocks
2016 growth forecasts remain positive at 1.6%
Non-financial corporate debt: an upward momentum unique in Europe but far below alert thresholds

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16/09/2016
Country risk

Poland Insolvency Report: Insolvencies fall amid fair economic growth

Poland’s economy is slowing this year, although the growth rate will remain fair: 3.2% for 2016, following 3.6% in 2015
Business is benefiting from positive macroeconomic conditions
Insolvencies and restructuration proceedings fell by over 14%. Coface forecasts further improvements, with the number of proceedings falling in 2016 and 2017

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09/09/2016
Sectors Risk

Agrofood in North Africa: a strategic sector at nature’s mercy

Several favorable factors are boosting the sector, including rising populations, increasing demand for processed food, higher per capita incomes and improved production capacities. Infrastructures, climate and government strategies are major influencers.

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05/09/2016
Country risk

Coface publishes CEE TOP 500 Companies

Biggest players benefit from favorable business conditions in CEE
• Booming economy: +4.2% increase in turnover
• Poland wins again, Czech Republic climbs to second place, followed by Hungary
• Sectors: 12 out of 13 sectors report increase in turnover - only oil & gas remains in difficulties

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31/08/2016
Sectors Risk

Pharmaceutical companies in the United States face two opposing scenarios for their business: 'optimistic' or 'pessimistic'

Despite strong private and public investments, health indicators in the United States are below average compared to the 12 most advanced countries

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31/08/2016
Sectors Risk

The outlook for the us pharmaceuticals

Of all the industrialised nations, the USA has the highest expenditure for public healthcare but poor results

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30/08/2016
Country risk

New Germany Corporate Payment Survey 2016

Despite the solidity of Germany’s economy, payment delays are still commonplace

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09/08/2016
Country risk

China’s two-speed economy: Sector winners and losers

China’s economy grew by 6.9% in 2015, the slowest expansion pace in 25 years. Growth should continue to slow in 2016 and 2017, and will probably undershoot the government’s average annual growth target of 6.5% - as set out in the five-year plan for 2016-2020.

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28/07/2016
Corporate news

H1-2016 results in line with July 4th announcement

Strategic plan Fit to Win designed to transform Coface into the most agile global trade credit partner in the industry.

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18/07/2016
Sectors Risk

Sector assessments revised in 6 global regions

Sector risks are still increasing in emerging markets
• Strong regional disparities persist: 5 out of the 6 downgrades are in emerging markets
• In Europe, dynamic household consumption is boosting many sectors
• The health of UK sectors is deteriorating and hinges on post Brexit decisions

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18/07/2016
Sectors Risk

Sector Risk Assessments - 2nd quarter 2016

Coface assessment are based on 70 years of Coface Expertise, Financial data published by listed companies from 6 geographical regions and 5 financial indicators taken into account: turnover, profitability, the net debt ratio, cashflow, and claims observed by our risk managers.

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17/07/2016
Country risk

Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries

Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries.

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13/07/2016
Country risk

Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favorable economic conditions

The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%.

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12/07/2016
Country risk

United Arab Emirates: A new era of slower growth

High level of diversification does not make the UAE totally immune from the energy prices fall, retail and tourism challenged.

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08/07/2016
Country risk

EURO 2016: the final as seen by Coface economists!

How countries have beat the competition

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30/06/2016
Country risk

World corporate risk reaches peak levels

Forecast world growth for 2016 down by 0.2 points to 2.5%. The average level of global risk corresponds to B, « significant risk ». Increasing numbers of emerging markets included in the "extreme" and "very high" risk categories. Three leading world economies become fragile. China penalises activity in several Asian countries. Europe facing positive dynamics, but political risk driven by the Brexit must be monitored.

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29/06/2016
Country risk

Despite persistent crises, sub-Saharan Africa presents opportunities in 2025 time-frame

Heavily impacted by the Chinese slowdown and the fall in commodity prices, sub-Saharan Africa posted its lowest level of growth since 2008. 15 countries, including several that have been severely impacted by cri-ses, show significant potential in terms of consumer spending. Two sectors offer medium-term opportunities: retail and ICT.

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28/06/2016
Country risk

Infografics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frame

15 countries identified as having high potential consumer markets

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27/06/2016
Country risk

Brexit – Risks and Opportunities says Coface

The referendum result has caused uncertainty and volatility in the markets. But also, with the lower value of Sterling, opportunities to export. However all this comes with the risk of not being paid.

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21/06/2016
Country risk

Insolvencies in Northern Europe: Positive trends in the Netherlands, Sweden and Germany

Europe’s improved macroeconomic situation has had favorable effects on businesses in most European countries and led to fewer insolvencies in 2015 in the four Northern.

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17/06/2016
Corporate news

Coface highlights troubling levels of corporate debt at Country Risk Conference

The rising level of corporate debt in emerging markets is a significant factor behind a record high index of country risk, according to Coface’s Chief Economist.

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08/06/2016
Country risk

24 nations warming up for the euro 2016

Country risk assessments of qualified countries: their current form

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31/05/2016
Country risk

No improvement in Asia Pacific corporate payments in 2015

Coface’s annual survey on Asia-Pacific economies questioned 2,793 companies in 8 markets (...)

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26/05/2016
Country risk

Is the French economy definitely taking off?

A number of positive indicators for the French economy appeared between January and April 2016.

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18/05/2016
Country risk

What to expect from Brazil’s perfect storm?

Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff (...)

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17/05/2016
Corporate news

Coface in the UK and Ireland adds to its experience with the appointment of John Nicholas as Risk Underwriting Director

Coface in the UK and Ireland, a leading provider of credit insurance, appoints John Nicholas as Risk Underwriting Director while the incumbent, Grant Williams, becomes Political Risk Director.

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10/05/2016
Country risk

Hungary: Private consumption rising but challenges remain for corporates

Hungary is performing well, considering the context of struggling economies globally.

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18/04/2016
Country risk

Steel overcapacity around the world: risk reaches a high in 2016

Following a long period of increasing demand, driven by China in the 2000s, steel is suffering from weak growth in the global economy.

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15/04/2016
Country risk

Sector risks remain under pressure in the emerging markets

Global growth at half-mast (2.7% projected by Coface for 2016), under the impact of the highly volatility financial markets and continuing low oil prices, is compromising the health of industries analysed by Coface. (...)

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11/04/2016
Corporate news

Businesses can profit from economic insights at Coface UK’s next country risk conference

Amid the question of the UK’s membership of the EU, concerns about the volatility of financial markets and continued geopolitical tensions, Coface UK’s annual Country Risk Conference will provide a realistic appraisal of market risks and opportunities so businesses can make informed and confident trading decisions.

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24/03/2016
Country risk

Quarterly update of Coface country risk assessments

The global economy is turning "Japanese": world growth remains low, despite ultra-expansionist monetary policies (...)

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24/03/2016
Country risk

Czech Republic, Poland, Chile, and Thailand closest to a quick upturn in exports

Although the current crisis in emerging countries is surprising in its intensity, with their growth cut in half in five years and increased exposure (...)

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24/03/2016
Country risk

Infographics: companies in emerging countries: is another “Phoenix miracle” possible?

Consult Coface new infographics

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17/03/2016
Country risk

Iran: Sharp turn ahead, drive carefully

After five years of sanctions, Iran is finally to rejoin the global community. The return of Iran should have an effect on international growth via the oil channel but, above all, will bring huge changes to Iran itself.

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17/03/2016
Country risk

Infografics: The return of Iran to the global market

Iran: Strengths, weaknesses, opportunities and threats

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16/03/2016
Country risk

Few companies in China spared from overdue payments in 2015: 80% of corporates affected

A new Coface survey on corporate credit risk management, to which 1,000 companies based in China responded, reveals that corporate payments continued to deteriorate in 2015 (...)

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02/03/2016
Country risk

Risks for German exports have risen significantly

The greater export risks faced by German companies are hampering growth performance. As Germany has strong trading ties with the Emerging Market and Developing Economies group (EMs), it is highly exposed to the (...)

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19/02/2016
Country risk

China’s role in Latin America is much more than a trade issue

China, on its way to becoming an important financial player for economies with restricted access to international markets, has announced its intention to increase its (...)

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17/02/2016
Country risk

Company insolvencies in France: starting to return to normal

For the second year running, the number of company insolvencies[1] is down, to 60,800. The decrease was 2.1% compared to 2014 and touched businesses of all type (ranked by turnover). Despite a still-difficult economic situation, several favourable factors were at play.

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09/02/2016
Corporate news

Coface 2015 results: net income €126M and proposed dividend stable at €0.48 per share (5)

At the end of 2015, a year marked by a deterioration in the global economic environment, Coface recorded a slight increase in net income (group share), at €126M (€125M in 2014).

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26/01/2016
Country risk

Country risks again under tension in 2016

To be monitored: cheap oil, financial market volatility and the Chinese slowdown in advances countries and growing debt of companies in emerging countries

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26/01/2016
Country risk

Infographics : Country risk assessment map - January 2016

160 countries under the magnifying glas.

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11/12/2015
Country risk

Europe’s qualitative wine production model resists competition

French and Italian producers are not suffering from the new world competition on low and mid-level products while Spain is more vulnerable.

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10/12/2015
Country risk

Sector assessments in the world, the persistence of high risks

Marked by the commodities price fall and the slowdown in sales, 2015 requires a greater control over risks

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27/11/2015
Country risk

French companies are starting to benefit from a tenuous recovery, although certain sectors remain at risk

Growth has returned to France, but it remains fragile. Coface economists estimate a growth of 1.1% for 2015 and 1.4% for 2016. Company insolvencies are down, although the level remains high. Companies are benefiting from lower oil prices and advantageous tax measures (...)

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27/11/2015
Sectors Risk

Construction: the Achilles' heel of the French economy

Following a long period of stagnation, construction in Europe is showing signs of recovery. In France it is the only sector, out of the fourteen studied by Coface, to be rated as very high risk. However confidence is slowly returning (...)

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25/11/2015
Corporate news

Coface UK Country Risk Conference on 9th June

Following the UK Chancellor’s warning that the UK will not be immune from rising global economic risk1, it’s timely that credit insurer Coface announces the date of its annual UK conference to assess the trading conditions, hazards and opportunities for businesses.

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03/11/2015
Country risk

Brazil: no quick fix for the crisis

Brazil, downgraded to B (significant risk of businesses defaulting) by Coface in September, has been facing a scenario of economic juggling (...)

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19/10/2015
Country risk

Half year 2015 Insolvency Report: Poland continues on improvement track

Poland’s increased economic activity has already reached the levels required to stabilise the number of company insolvencies.

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15/10/2015
Sectors Risk

Infographics: The temperature of 14 sectors activity in the world

Discover our sector risk infographics on the temperature of 14 sectors activity in the world

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15/10/2015
Sectors Risk

Infographics: focus on the future of solar energy in Europe: photovoltaics

Discover our new infographic focus on the future of the solar energy in Europe

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15/10/2015
Sectors Risk

Quarterly sector risk assessments update

Energy is more risky than ever, while Information and Communication Technologies is the only sector to receive a positive revision and automobile is adjusting.

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15/10/2015
Sectors Risk

Focus on the future of solar energy in Europe: photovoltaics

Despite the strong domination of Chinese companies and overcapacity in Europe, the European market remains promising in the medium term.

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18/09/2015
Country risk

Country risk assessment map - 3rd quarter 2015

This map gives you a global overview of country risk assessments. Coface's methodology in assessing country risk uses macroeconomic expertise, comprehension of the business environment and microeconomic data collected over 70 years of payment experience.

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18/09/2015
Country risk

Is a Chinese shadow cast over Asia?

China is trying to find a way to achieve healthier, more sustainable growth, but this is not completely painless for its economy – or for those of its neighbours. According to Coface estimates, growth is unlikely to exceed 6.7% in 2015 and 6.2% in 2016, compared with 13.4% over the period 2006-2007. This is mainly a result of the technological and capital catch-up process running out of steam: several industries are suffering from overcapacity and corporate indebtedness is high, thus impacting investment

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18/09/2015
Country risk

Quarterly update of the Coface country risk assessments

Large and small emerging countries are experiencing strong turbulence.

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17/09/2015
Country risk

Infografics: Chinese slowdown: what risk of contagion for Asian countries?

We are witnessing a shift in the Chinese economic model. Which Asian countries will be the first victims if there is a hard landing? And which will enjoy the greatest immunity?

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16/09/2015
Country risk

How Gulf Cooperation Council countries (GCC) are dealing with falling oil prices

As oil continues to be a major contributor to economic performance in the GCC, economic diversification is vital for the Gulf countries to ensure continued healthy growth. This has been showcased in Saudi Arabia and the UAE, which are driving sustained GDP growth through significant government investment in non-oil sectors. In the UAE, the food and beverage sector is forecasted to grow by 36% between 2014 and 2019, while KSA’s automotive industry is slated to rise by 5.2% in 2015.

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15/09/2015
Country risk

Latin America: what life after the commodity burst?

Growth in Latin America has been slowing down since 2011. This lacklustre situation, caused by weak domestic fundamentals, has been exacerbated by cyclical factors experienced since the second half of 2014. In 2015 we have ob-served a further deterioration of this (...)

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15/09/2015
Country risk

Company insolvencies in Western Europe: a drop of 7% expected in 2015 but situation is contrasted

Company insolvencies in Western Europe have experienced two successive storms. The subprime crisis, which made insolvencies jump by an average of +11% in the twelve countries studied was, unsurprisingly, followed by (...)

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14/09/2015
Country risk

Infographics - Insolvencies in Western Europe: A downward cycle has started

Infographics - Insolvencies in Western Europe: A downward cycle has started - The economic recovery in the euro zone supports this trend - September 2015

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10/09/2015
Country risk

Company insolvencies in Western Europe: a drop of 7% expected in 2015 but situation is contrasted

Company insolvencies in Western Europe have experienced two successive storms. The subprime crisis, which made insolvencies jump by an average of +11% in the twelve countries studied was, unsurprisingly, followed by (...)

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04/08/2015
Corporate news

H1-2015 results: Coface posts a profit of EUR 66 million in spite of an increase in claims in emerging countries

Since the end of last year, at the occasion of our periodic results publications, we have noted weaknesses affecting the macro-economic environment. The first half of this year confirms this trend, and it was marked by an increase in the frequency of claims, in particular in emerging markets. Given this context, we are publishing good quality half-year results. The Group thus confirms the robustness of its business model: product innovation and multi-channel distribution, while controlling risks and costs.

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23/07/2015
Country risk

Country risk map - 2nd quarter 2015

This map gives you a global overview of country risk assessments. Coface's methodology in assessing country risk uses macroeconomic expertise, comprehension of the business environment and microeconomic data collected over 70 years of payment experience.

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22/07/2015
Sectors Risk

The CEE automotive sector is highly dependent on foreign investments – but there are positive dynamics in domestic demand

The CEE region has become an attractive destination for investments by global car manufacturers. In 2014, 3.6 million vehicles were produced in Eastern Europe, equating to 21% of total EU production.

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24/06/2015
Products news

Coface revamps its credit insurance offer for mid-market companies

Aimed at the evolving credit insurance needs of mid-market companies, Coface has modernised its flagship policy, renamed TradeLiner.

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22/06/2015
Country risk

Sub-Saharan Africa: three East African economies are sheltered from the economic storm

Although growth was accelerated by the high prices of commodities on which sub-Saharan Africa is highly dependent, the region must now deal with the effects of falling oil prices. Three of these countries have all the ingredients needed for dynamic growth in the short and the long term. They have been relatively spared by the decline in world commodity prices and their economies are diversifying.

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22/06/2015
Country risk

Quarterly updated country risk assessments

Many countries are facing the full brunt of the decline in oil prices, especially emerging countries for which Coface has revised growth forecasts to 4% for 2015 (compared to 4.2% in March 2015). Meanwhile, developed economies (2% growth forecast for 2015 and 2016) are benefiting from the slight recovery taking shape in the eurozone (1.5% in 2015).

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17/06/2015
Country risk

Is India’s economic revival thanks to the Modi government?

In May 2015, the IMF highlighted India as “one of the bright spots in the global economy”, mainly due to more effective policies and the end of political uncertainty. Coface expects the country’s GDP growth to reach 7.5%. But to what extent have Modi’s reforms contributed to the recent pickup in growth? Are the improvements in the economy without risks?

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12/06/2015
Country risk

European Economy now moving, but not without a push says Coface

A small-scale improvement within European economies could be hampered by a lack of in-vestment, warned Coface’s Chief Economist at the credit insurer’s Country Risk Conference in London. The event at the British Library on Thursday 4 June examines the trading conditions, risks and opportunities for UK businesses.

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05/06/2015
Country risk

After a decade of well-implemented reforms and high growth rates, the Turkish economy seems to be struggling to maintain the same growth performance

Over the past 10 years, the Turkish economy posted an average growth rate of 4.9%, led by domestic consumption. Particularly, during the period following the global financial crisis, Tur-key benefitted from the globally cheap and massively available liquidity conditions for fi-nancing domestic consumption and investment expenditure.

Read More
01/06/2015
Country risk

Coface Insolvency Monitor for Central and Eastern Europe: Economic perspectives improved but corporate challenges remain

CEE’s improved economic activity in 2014 resulted in the stabilisation of company insolvencies, with a minor drop of -0.5% in the regional average.

Read More
27/05/2015
Country risk

Business insolvencies in France at the end of April 2015: The numbers continue to slowly improve, at -2.7% on a year

The favourable swing first seen in 2014 continues. The immediate rise in business insolvencies in the first four months was partly due to a catching up after the artificially low year-end data, because of the industrial action within the court system, which has however resurfaced in May.

Read More
26/05/2015
Country risk

When Morocco exports south

The Moroccan economy demonstrated its resilience during the recent global economic crisis and the “Arab Spring”. In what is an increasingly unstable international environment, Morocco has proven to be highly stable.

Read More
29/04/2015
Country risk

70% of companies in the Asia-Pacific Region experienced overdue payments in 2014

Coface’s annual survey on the Asia-Pacific region questioned 2,695 companies in 8 economies. 70% of the companies surveyed experienced overdue payments in 2014 - the highest level in 3 years. In addition, 37% of the respondents reported that overdue amounts increased in 2014, up by 2% compared with the previous year. Companies in China, India, Hong Kong and Thailand are particularly affected.

Read More
15/04/2015
Sectors Risk

Two sectorial assessments updated due to impact of lower oil prices

The recent drop in the price of oil has had knock-on effects for company credit risk around the world. Among the 14 sectors analysed, Coface has identified one big winner and one big loser, with the corresponding assessments revised upwards or downwards.

Read More
15/04/2015
Sectors Risk

Has the US automotive sector shifted safely into top gear?

The bail-out for the US automotive industry, at a cost of 80 billion dollars and large-scale layoffs, traumatised the United States. Its automobile manufacturers are now rebuilding their competitiveness and benefiting from the upturn in US economic growth (forecast at 2.9% in 2015). The industry has picked up and demand is being driven partly by easier access to credit, but at what price? In 2015 , Coface’s model predicts an increase in sales of 3.8% a sustained level of growth, but well below the level recorded in recent years.
The automotive sector needs to continue to look towards the future and the changes required to meet the new challenges ahead.

Read More
15/04/2015
Sectors Risk

New infographics, The US automobile sector : a risky recovery?

Discover the new Coface infographics (April 2015)

Read More
30/03/2015
Country risk, Sectors Risk

New infographics: worldwide risk map

Discover the new Coface infographics

Read More
30/03/2015
Country risk

Quarterly updated country risk and business environment assessments

Coface upgrades country risk assessments of two European economies and places Brazil under negative watch
Business environment in Russia downgraded to C

Read More
30/03/2015
Country risk

Five advanced economies will avoid the risk of "secular stagnation" within the next decade

More than three years after the official recovery, advanced economies are struggling to return to a path of sustained growth. Some are even forecasting stagnant growth, a situation sometimes seen as irreversible. But not all advanced economies are in the same position when it comes to this risk of long-term stagnation and some exceptions stand out in what is a fragile global landscape. Which of the OECD’s advanced economies have what it takes to accelerate their growth over the next decade?

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19/03/2015
Country risk

Holding a leading position in business information, Coface starts credit-insurance in Israel

Local companies to benefit from Coface’s expertise in prevention and credit risk protection in addition to collection and information services.

Read More
10/03/2015
Country risk

Corporate overdue payments in China at high levels: 80% of corporates affected in 2014

Slower growth and increase in non-performing loans expected in 2015

Read More
06/03/2015
Corporate news

UK Businesses will find answers at Coface's 2015 Country Risk Conference

How will the outcome of the general election affect the UK’s economic prospects?
In the face of several issues, where and at what pace will Europe recover?
How much are capital markets predictive of economic activity?
What geopolitical risks will have the greatest impact on international trade and commodities?

These are some of the burning questions to be discussed at Coface’s 2015 Country Risk Conference.

Read More
05/03/2015
Country risk

Impact of lower international oil prices on Latin America

Latin America is a major producer of commodities and the recent drop in oil prices is impacting the region’s countries in different ways. Which countries could benefit from lower international prices - and why are others negatively impacted?

Read More
29/01/2015
Country risk

2015 Coface Country Risk Conference: In 2015, the global recovery will be laborious and subject to multiple risks

The global economy is on the path of gradual recovery. Less vigorous than before the 2008 crisis, global growth continues to follow a moderately accelerating trend.

Read More
21/01/2015
Country risk

Turkey: Depreciation in exchange rates and sluggish domestic demand affect corporate payment performance

Disclosure of the exit strategy by FED Chairman Ben Bernanke in May 2013, triggered a new period marked by a change in the risk perception towards developing economies in financial markets. Turkey entered this period with a high current accounts deficit, a production sector substantially dependent on imports and three successive elections.

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19/01/2015
Country risk

Middle East and North Africa region: What progress after the “Arab Spring”?

After a period of political and social turmoil, the economic activity is gaining strength in the Middle East and North Africa region. The growth is expected to stand at 2.6 percent in 2014 and to accelerate to 3.2 percent in 2015 on the back of global economic recovery and prelimi-nary signs of political consensus in some countries of the region. However the growth performance will continue to stand below the 2000-2010 average of 5.4 percent.

Read More
15/01/2015
Country risk

Latin America - Growth picking up for Pacific countries

Three decades ago, Latin America was associated with negative terms such as ‘dictatorship’, ‘debt crises’ and ‘high inflation’. Over the years, the region has begun to be associated with economic growth, the new middle class, poverty reduction and controlled inflation.

Read More
20/11/2014
Sectors Risk

After the economic crisis, what does the future hold for pharmaceutical companies in Europe?

The pharmaceutical sector’s dependence on the economic situation of European countries proved to be crippling for the industry during the 2008-09 crisis, and once again during the sovereign debt crisis of 2011-12. Particularly weakened by reduced health expenditure in Europe, pharmaceutical companies are now looking to revive, expand into new markets and invest in niche markets to break the deadlock.

Read More
20/11/2014
Country risk

Coface quarterly sector risks assessments: 14 sectors in three major regions of the world

North American chemicals, transport, textiles and clothing upgraded from "medium risk" to "low risk"
In North America, sector risk has improved due to the positive economic outlook and the drop in oil prices

Read More
18/11/2014
Corporate news, Products news

Coface pursues its strategy of innovation, expanding its CofaNet online offer with Policy Master and Cash Master.

With these two complementary offers, Coface facilitates credit management teams’ risk management and access to financing.

Read More
28/10/2014
Country risk

Global trade: a return to pre-crisis levels is unlikely, but the potential for growth exists

Following thirty years of unprecedented expansion, global trade is experiencing a period of radical change.

Read More
28/10/2014
Country risk

Updated country risk assessments

A slow recovery but a recovery nonetheless in the Eurozone, political and financial instability in large emerging countries.

Read More
06/10/2014
Corporate news

Coface launches an innovative offering for SMEs: SafeTrader a simple on-line solution to protect against unpaid invoices

Recognising that a quarter of bankruptcies are linked to unpaid invoices, Coface is introducing an innovative solution targeted at SMEs, key drivers of economic growth in the UK.

Read More
30/09/2014
Corporate news

Launch of CofaMove application: CofaNet goes mobile

Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of CofaNet, its online platform for managing credit insurance contracts. The application will be available for download at the Apple App Store and Google Play Store.

Read More
29/09/2014
Country risk

UAE economy grows stronger thanks to effective diversification policy

5% growth projected for 2014 on the back of successful diversification policy
Favourable business environment, supported by new company law to improve transparency
Debt profile improves. Financing needs of government-related entities (GRE) continues to be a question

Read More
26/09/2014
Country risk

Carrot and stick: Challenges ahead for the Chinese economy

Since the beginning of the year, the Chinese government has continued its efforts to implement various items on the reform agenda, particularly those concerning fine-tuning the structure of the Chinese economy. As domestic demand remains subdued, the property market continues to be sluggish and over-capacity in some sectors remains, it is unlikely that China will achieve its 7.5% growth target. Coface expects that the GDP growth of China could reach 7.4% in 2014, given more policy support in sight.

Read More
19/09/2014
Sectors Risk

Coface quarterly sector risks survey: 14 sectors in three major regions of the world

Tentative signs of improvement in sector risks in Europe
Western Europe: the metal and automotive industries have left the "very high risks" category

Read More
19/09/2014
Country risk

European airlines are among the least profitable in the world: what is the adaptation scenario?

At a time when it appears vital to capture the growth potential in Asia, European airlines are stumbling due to aggressive competition from low cost operators and airlines from the Gulf. Currently, they are among the least profitable in the world. Faced with these new constraints, what changes are conceivable?

Read More
17/09/2014
Country risk

Company insolvencies in Brazil: what to expect in the near future?

Restructuring and bankruptcy remain increasingly used procedures.
Activity in Brazil remains lacklustre, inflation above targets and interest rates are amongst the highest in the world. Various indexes show that confidence in Brazil remains down, while the low investment ratio continues to deteriorate.

Read More
04/09/2014
Country risk

Romania at the front line of economic growth in 2013 – but will it catch up after the contraction in 2014?

Romania’s economic performance has made it one of the leaders in Europe’s recovery. Its growth has exceeded expectations, with GDP rising by 3.5% in 2013. Significant contributions came from the agricultural and industrial sectors, in particular from car production supplying mainly foreign customers. Although Romania will not continue this pace of growth in 2014, the outlook remains positive.

Read More
10/07/2014
Country risk

Downgraded to A4, Brazilian economy gears towards a year of adjustments in 2015

Coface expects a considerable slowdown of GDP in 2014 but considers 2015 to be a turning point, boosting GDP in the medium term. In terms of market efficiency the country is weak, despite its potential in terms of market size. Local industry has been facing pressured margins, due to high transportation and energy costs and wages

Read More
01/07/2014
Country risk

The Turkish economy - What can we expect in 2014

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets.

Read More
19/06/2014
Country risk

The UK upgraded to A2 due to the strength of its recovery

Affected in 2009 by a recession more intense than other European countries under the effect of a sharp drop in household consumption and investment, the British economy is currently distinguished by the strength of renewed growth (1.8% in 2013). Forecast at +2.7% in 2014 by Coface, it could be as dynamic as that of the United States and exceedGermany (2%).

Read More
19/06/2014
Country risk

Updated Country Risk Assessments - June 2014

The first quarter of 2014 confirmed the acceleration in global growth: according to Coface's forecasts, after 2.6% in 2013, growth will be close to 3% in 2014 and 3.3% in 2015. The eurozone (1.1% expected in 2014) is slowly but surely recovering from a serious double-dip. The USis showing dynamic and balanced growth (2.7% forecast in 2014), in spite of bad weather in January.

Read More
05/06/2014
Country risk

Coface gives vote of confidence to UK at conference to promote safer trading

The UK is becoming a better place to do business according to Coface, which is upgrading its country risk assessment in the light of positive economic indicators and payment experience in the UK. The experts in credit management and trading risk analysis announced the decision at their annual Country Risk Conference in London on Thursday 5 June 2014 although Coface warned that levels of private and public debt are still too high.

Read More
01/05/2014
Country risk

Insolvencies in Central and Eastern Europe 2013

Companies in the CEE region faced a challenging year in 2013: The already weak economic situation deteriorated and household consumption decreased due to fiscal measures designed to tackle rising budget deficits. Access to credit was further constrained in line with reduced supply and demand for new loans.

Read More
28/04/2014
Country risk, Sectors Risk

Coface quarterly credit risks survey: 14 sectors in 3 major regions of the world

Sector risk is stabilising in North America and Europe, but becoming a source of concern in emerging Asia.

Read More
28/04/2014
Country risk, Sectors Risk

New paradigm for the electronics industry in Asia: clear dynamism, increased risks

Emerging Asia is the new epicentre of electronics innovation. Local companies are now counting on the internalisation of production and research. However, the dynamism of the sector faces new risks, as the gradual rise in unpaid invoices. In 2013, close to 3 out of 4 companies in the electronics & IT sector in Asia-Pacific experienced overdue payments.

Read More
08/04/2014
Corporate news, Country risk, Sectors Risk

Coface Conference to Assess Global Trading Risks and Opportunities in Time of Continued Uncertainty

Coface UK & Ireland has announced details of its 2014 Country Risk Conference, which gives UK businesses an insight into domestic trading risks and opportunities and export prospects within established and emerging markets.

Read More
25/03/2014
Country risk

Coface identifies 10 emerging countries hot on the heels of the BRICS

After 10 years of frenetic growth, the BRICS are slowing down sharply.
At the same time, other emerging countries are accelerating their development.

Read More
25/03/2014
Country risk

Country risk assessments update: UK improves whilst major emerging economies struggle

The upturn in the advanced economies is reflected in the upwards revision of the country risk assessments for the UK and the US, which join the lowest risk category.

Read More
17/03/2014
Corporate news

Roslyn Keogh appointed Country Manager - Coface Ireland

Ms Roslyn Keogh has been appointed the Country Manager for Coface Ireland.

Read More
13/03/2014
Corporate news

Coface 2013 Annual Results

2013 Annual results
Good commercial dynamics and improvement in loss ratio


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11/03/2014
Country risk, Sectors Risk

China sees highest level of corporate overdue payments since 2010

Coface’s survey of corporate credit risk management in China, carried out in the fourth quarter of 2013, revealed that 8 out of 10 companies in China experienced overdue payments in 2013. The chemical, industrial machinery and household electronic appliance sectors are at higher risk. Since credit facilities will remain tight in 2014, a deterioration in corporate payments could lead to a significant ripple effect in China’s shadow banking market.

Read More
13/02/2014
Corporate news

Coface UK & Ireland wins at the ICM British Credit Awards 2014

Coface UK & Ireland scooped the prestigious title of Credit Insurer of the Year last night at the credit industry’s annual awards in London. The British Credit Awards are held by the Institute of Credit Management (ICM), Europe’s largest credit management organisation.

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03/02/2014
Country risk, Sectors Risk

China in 2014: stable growth with financing and overcapacity risks

2014 will be a year of tension for the Chinese economy, representing the diverging trends of macro and micro environments. While expectations are that there will be many reforms following the Third Plenary Session of the 18th Communist Party of China Central Committee (CPCCC), attention must be paid to the potential negative impacts on the real economy as a result of the reform efforts as well as the credit risks associated with the rising cost of funds.

Read More
21/01/2014
Corporate news, Country risk

Country Risk Conference 2014: In 2014, favourable risk trend in Advanced Economies but persistent tensions in large Emerging Countries.

After a post-crisis readjustment between advanced and emerging countries, in 2014 global country risks are set to change in line with a more classic model.

Read More
14/01/2014
Country risk, Sectors Risk

Coface Quarterly ‘Panorama Sectors’

Positive changes in North America and Asia whilst risks stabilise in Europe. Focus on the European textile sector.

Read More
18/12/2013
Corporate news

Coface in the UK and Ireland continues customer service initiative with new website

As part of its continuing commitment to improving customer service, Coface in the UK and Ireland has redesigned its website, with improved functionality, design, and navigation. The new website features an improved homepage design, cleaner layout of page content, and an intuitive and consistent Coface-wide navigation system.

Read More
09/12/2013
Country risk

Worst Year for Company Insolvencies in France warns Coface

France is expected to suffer its worst year for company insolvencies, warns Coface in its latest economic Panorama report.

Read More
19/11/2013
Country risk

Coface report highlights uneven growth in Central and Eastern Europe

The Panorama includes Coface’s 5th annual study of The top 500 companies in the CEE region, which ranks the flagship companies by their 2012 turnover.


Read More
06/11/2013
Products news

Late payment now greater threat than insolvent customers says Coface

UK businesses should tighten their credit management procedures to address the risk posed by late-paying customers says Coface UK as it reveals that late payment has overtaken insolvency as the major reason for UK claims notifications in the first nine months of 2013.

Read More
21/10/2013
Country risk

Emerging Asia: Coface warns of growing risks linked to household debt

Coface’s latest Panorama report concludes that the growth potential in Asia remains high, driven by the middle class

Read More
04/10/2013
Sectors Risk

Coface downgrades its credit risk assessment in 3 business sectors

Chemicals, pharmaceuticals and automotive: increased credit risks in Europe. The unique indicator, developed by Coface economists and based on the payment experience of companies recorded by its underwriters, sends an alarm signal to three of the fourteen business sectors analysed.



Read More
23/07/2013
Country risk

Brazil must address structural problems before it can return to the fast lane

Brazil can no longer depend on consumption-fuelled growth and must address the structural problems that led to stagflation and recent social discontent, according to Coface, the experts in assessing country risk. Further to the recent extensive coverage in the national media on these recent events in Brazil, Coface’s latest comprehensive Panorama Report looks at the difficulties faced by the world’s second largest emerging economy but finds some reasons for optimism for UK exporters.

Read More
02/07/2013
Country risk

The Italian 'business model' stuck in a vicious circle

In its latest Panorama report, Coface warns of worsening company payment practices in Italy, reflecting the severity of the recession, the preponderance of fragile small companies and the sheer scale of late payment within the public sector.

Read More
28/06/2013
Country risk

Coface predicts contrasting fortunes for two important UK export markets

In its latest Panorama Report of country risk assessments, a unique evaluation of the risk of payment default within different countries, Coface has updated its assessment for 11 different countries. Amongst these, Ireland’s risk assessment has been placed under positive watch, whilst South Africa’s risk assessment has been downgraded.

Read More
24/06/2013
Country risk

Victims of sluggish growth, businesses in Central Europe will not emerge from the crisis in 2013

Compared to Western Europe, defaults in Eastern Europe are accelerating at a very high rate

Read More
18/06/2013
Corporate news, Country risk

Coface Country Risk Conference highlights risks of continued austerity in Europe

Economists at Coface, the global experts in assessing country risk for businesses trading in domestic and export markets, are downgrading their GDP growth forecast for the Eurozone. The announcement at Coface’s Country Risk Conference in London on Thursday 13 June reflects concerns about Germany, the largest EU economy and is in contrast with a more positive outlook for the USA and Japan.

Read More
10/05/2013
Corporate news, Products news

Launch of TopLiner: Supplementary cover beyond standard credit insurance

As part of a worldwide product roll-out, Coface in the UK & Ireland announces the launch of TopLiner, supplementary credit insurance cover, belonging within the framework of its ‘Globalliance’ standard contract where initial guarantees provided are lower than the requested amount or declined.

TopLiner offers a flexible, transparent, quick solution for covering customer risk whilst honouring the single main contract in place. Separate from traditional underwriting and based on a price adapted to the risk, the TopLiner concept allows companies to make an objective risk-taking decision.

Read More
01/05/2013
Corporate news, Country risk

Coface conference to assess trading risks and rewards For UK businesses

Coface UK’s free biennial Country Risk Conference on Thursday 13 June 2013, from 9am to 1pm at the British Library, London, will look behind the headlines to give an insight into domestic and overseas trading risk for UK businesses.

With the release of the latest GDP figures showing limited economic growth of 0.3% and following the IMF’s decision to downgrade its UK economic forecast, concerns have once again been raised about the long-term prospects for the UK economy. The UK companies who do best in this difficult environment will be those who stay in touch with the most promising global opportunities and can take advantage of these, without taking unnecessary risks and Coface’s Country Risk Conference is intended to help businesses meet this challenge.

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22/04/2013
Country risk

The gap between Europe and the rest of the world is widening

Credit risks still high in Europe but the outlook is favourable in Emerging Asia and in North America

Read More
28/03/2013
Corporate news

Antonio Marchitelli joins Coface as new Mediterranean and African Region Manager

Antonio Marchitelli has been appointed Mediterranean and African Region Manager of Coface, effective from March 1st 2013.

Read More
22/03/2013
Country risk

Risks are back on the radar in emerging countries: political instability, increasing protectionism, credit bubbles

Despite resilient growth, estimated at 5.1% in 2013, and improved sovereign and external fundamentals, emerging country risks have not disappeared altogether, but have changed form. Three major risks now weigh on emerging markets. Politically, tensions have sharpened, illustrated by protests in North Africa and the Middle East, and now also in Russia and India. Economically, we are seeing a rise in protectionist measures. Financially, excessive growth in bank loans to the private sector in a number of emerging economies is stoking fears of a credit bubble, in Asia in particular.

Rising political instability risk, fed by growing frustration, but also by the marked capacity to translate these frustrations into action

Read More
19/03/2013
Country risk

UK exporters urged to wake up and smell the coffee in Brazil

With little relief in sight for the Eurozone economies, UK businesses will need to reach out to countries like Brazil to boost their exports. That is the message from Coface, the experts in analysing country and business risk who urge businesses to focus on opportunities in emerging markets as credit risk across Europe shows no signs of improving.

Read More
28/01/2013
Corporate news

Coface delivers faster claim payment times for its clients

Companies with Coface credit insurance now have even less time to wait for their claim to be paid. The UK division of Coface, a worldwide leader in credit insurance, reveals it had introduced an initiative during 2012 to streamline its processes and reduce the amount of documentation required from clients. The success of this first phase of the programme – now in place for 2013 – means that all claims up to £5,000 in value are now paid, on average, within 5 days and that all claims, irrespective of value, are paid within 30 days, regardless of whether it concerns UK or overseas bad debt.

The second phase of the initiative will be rolled out during 2013 and promises to bring greater flexibility and control for its clients whilst improving response times further.

Read More
22/01/2013
Corporate news, Country risk

The crisis in Europe

Based on its day-to-day contact with companies worldwide, Coface has issued a cautious scenario for the global economy in 2013.

Read More
22/01/2013
Corporate news, Country risk

Country Risk Conference 2013: The crisis in Europe is far from over for corporates

Country Risk Conference 2013: The crisis in Europe is far from over for corporates

Based on its day-to-day contact with companies worldwide, Coface has issued a cautious scenario for the global economy in 2013. The recovery of advanced countries is still in hostage to public and private debt. Furthermore, household and corporate confidence has not been restored given the worsening situation of labour markets and the incomplete institutional reforms in Europe. The lack of visibility in U.S. budget policy may also impact American growth. Coface predicts a continued recession at -0.1% in the Eurozone with a persistent contraction in activity in Southern Europe. Growth in the USA will slow down to +1.5%, whilst emerging countries will post growth that is both healthy and sustainable at +5.2%.

Read More
21/01/2013
Corporate news

A new identity and tagline for Coface

Since 2011, Coface has refocused on its core business, credit insurance, and has reorganised itself to improve the way it supports its clients in an unstable economic environment. In this spirit, the Group has now taken on a new visual identity and a new tagline: "Coface for safer trade”. A unique sign of an international brand, the new identity is being introduced from 21 January 2013 in the 66 entities of the Coface Group.

"The new visual identity launched today reflects the substantial transformation of Coface over the past 2 years. Our new tagline expresses our specific added value as a credit insurer and a strong promise towards our clients: safer trade across the world", explains Jean-Marc Pillu, Chief Executive Officer of the Coface Group.

Read More
04/01/2013
Sectors Risk

Steel sector vulnerable due to overcapacity and falling demand in China says Coface

Global steel production will fall over the next 12 months because of current overcapacity and the slowdown in the Chinese economy says Coface. The experts in assessing business sector credit risks have published a report on the challenges facing the steel industry which focuses on China, the leading producer and consumer of steel.

Read More
19/12/2012
Country risk

Coface Business Sector Overview Highlights Opportunities For UK Exporters Beyond Eurozone

The outlook for UK exporters supplying business sectors such as chemicals, automobiles and retail is significantly brighter outside the European Union according to a new report from Coface, the global experts in country and trade sector risk. It highlighted the weakened position of many sectors within the EU, compared to North America and Asia.

Read More
17/12/2012
Country risk

Economic Recovery of USA and the Eurozone in Focus at Coface's Country Risk Conference

Renowned economists, academics and figures from the world of banking and business will debate the latest challenges facing global trade and consider emerging opportunities at Coface’s annual Country Risk Conference in January.

The 17th Conference will take place on Tuesday 22 January 2013 at the CNIT, Paris, and is set to attract over a thousand senior business people from France and beyond who are responsible for trade and credit risk decisions in their organisations.

Read More
08/11/2012
Products news

Coface Global Solutions: A new service for multinational companies in 66 countries

Coface, one of the worldwide leaders in credit insurance solutions, is enhancing its organisation by creating Coface Global Solutions (CGS), to meet the specific needs of multinational clients. With Coface's direct presence in 66 countries, CGS provides international groups with a global view of their trade risks as well as local management of these risks thanks to unrivalled monitoring and analysis tools.

Read More
05/11/2012
Country risk

Small Businesses vital to United States' recovery after election says Coface

Small businesses are the backbone of the United States' economy and key to its recovery but political uncertainties are holding them back, according to Coface’s latest report which focuses on the prospects for this sector.

Read More
01/11/2012
Country risk

Contrasting outlook for company insolvencies in Germany & France

German companies are significantly less likely than those in France to fail because they are more profitable, have more stable sources of funding and the country’s corporate insolvency laws are much stricter, says Coface, the experts in assessing trading risks around the world.

Read More
31/10/2012
Country risk

Opportunities for UK Businesses in the Automotive Sector to shine against European competitors says Coface

As the latest figures show a fall in car sales within the EU, Coface, the experts in analysing trading risk, remain optimistic about the prospects for UK companies supplying the domestic and export automotive markets.

A report on the UK automotive sector produced by Coface and published on its website today, says that UK companies which supply automotive manufacturers are well-placed to survive the weak economic climate in the Eurozone which is having a serious impact on continental competitors. Coface regularly analyses different market sectors in the UK and overseas in order to keep customers informed about the risks of trading.

Read More
22/10/2012
Country risk

Coface offers top tips to UK businesses trading in Africa

‘Be prepared’ is the message for UK businesses who want to profit from the excellent trading opportunities in Africa says Coface, the experts in analysing trade credit risk. As Coface announced it was strengthening its own presence on the continent, the company offered advice to businesses who want to expand into one of the fastest-growing regions in the world.

Read More
07/09/2012
Country risk

UK exporters could bask in India Summer says Coface

The business climate in India offers encouragement for UK companies who want to take advantage of its thriving technology and services markets, according to a report by Coface, who are experts in analysing trade credit risk.

Coface's annual survey of Indian companies revealed that the majority of the 988 respondents were optimistic about the prospects for the Indian economy. It also revealed an increasing number of companies had implemented credit management procedures which meant they were better equipped to offer realistic credit terms to trading partners and limit their exposure to bad debt.

Read More
07/09/2012
Country risk

Chinese businesses at risk from their Government's economic policy warns Coface

Measures taken by the Chinese Government to stimulate the economy in the face of the global economic slowdown could weaken the country's SMEs and have a knock-on effect on their payment behaviour reports Coface, a global specialist in assessing trading risk and a worldwide leader in credit insurance.

Read More
06/09/2012
Corporate news

Coface’s results for the first half of 2012: Sustained growth in turnover and in net profit

The Group continues to meet its commitments to profitable and autonomous growth, as demonstrated by the solid performance in the first half of the year, despite the difficult economic climate. Although the crisis threatens to continue in Europe, Coface’s new model will maintain financial solidity and commercial dynamism for the benefit of its clients.

Read More
05/09/2012
Corporate news

Frédéric Bourgeois appointed Managing Director of Coface in the UK and Ireland

Frédéric Bourgeois has been appointed Managing Director of Coface in the UK and Ireland as Xavier Denecker retires.

Frédéric joined Coface in 2004 after 7 years as a financial analyst at Natexis Bleichroeder, covering French, Swiss and German banks and insurance. First in charge of investments and reinsurance within Coface, he added treasury and refinancing responsibilities, as well as the trading desk specialised in Foreign Exchange guarantees on behalf of the French State, to become Group Finance & Reinsurance Director in 2011.

Read More
29/08/2012
Country risk

Promise in Morocco for UK exporters but business challenges remain says Coface

Morocco represents a great opportunity for exporters because of its relative economic stability and the social reforms under way but payment delays are still long, according to Coface, the global credit management specialists, who have just published a detailed report on the country’s business climate.

Grant Williams, Risk Underwriting Director of Coface in the UK and Ireland explains: “Morocco’s potential is recognised by UK businesses as the country is already one of the UK’s Top 50 export markets and exports from the UK to Morocco approached £500 million in 2011.

Read More
17/07/2012
Corporate news

Cyrille Charbonnel is appointed Chief Operating Officer of the Coface Group

Cyrille Charbonnel, Group Organisation Director and a member of the General Management Committee of the Coface Group, is appointed Group Chief Operating Officer, a newly created position.

In this role, he will manage the operational functions of the Group together with Jean-Marc Pillu, Chief Executive Officer, and more specifically the Commercial, Underwriting, Information, Claims & Collection functions. He retains his responsibilities as Group Organisation Director.

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10/07/2012
Country risk

Country risk assessments review: The crisis worsens in Southern Europe and the Indian model begins to show signs of struggle

The recession in Southern Europe is becoming increasingly severe in Spain and Italy, and has spread to Cyprus. The contraction in activity in these three countries is expected to be respectively 2%, 1.8% and 1.3% for the year 2012. Some concern has appeared about the emerging markets. The first signs of struggle in the Indian economic growth model and a deterioration in the business climate in Argentina are beginning to emerge. However, Indonesia – bolstered by the vitality of its domestic market – is demonstrating a significant ability to withstand external shocks.

In this increasingly difficult environment for companies, Coface has reduced its risk assessments for 6 countries, including Spain, Italy, Cyprus and India, and upgraded those of 4 countries.

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07/06/2012
Corporate news

Richard Burton is appointed Manager of the Asia Pacific Platform

He held the position of Deputy Manager up until he took over from Jean-Claude Speitel who retired at the end of May.

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31/05/2012
Country risk

Coface study on companies’ payment behaviour in China

For its ninth study intended to provide a better understanding of domestic payment behaviour of Chinese companies, Coface interviewed over 1,300 companies in various sectors and with different legal profiles between October and December 2011.

Despite the slowdown in activity in 2011 given the halt of the fiscal stimulus package, tighter monetary policy and the deceleration in external demand, Chinese companies’ payment behaviour remained globally satisfactory with sales on credit rising sharply. Nevertheless, cash asset problems, competition and more difficult access to financing for small businesses which were the main causes of payment delays in 2011, will continue to affect corporate financial strength in 2012. Budget stimulus measures may however attenuate economic risks and support activity.

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18/05/2012
Corporate news

Coface announces Dara Hanley as Senior Underwriter for Ireland

Coface – UK & Ireland, a leading provider of credit management solutions for business, has strengthened its risk underwriting team with the appointment of Dara Hanley as Senior Underwriter based in Dublin.

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18/04/2012
Country risk

Country risk assessments review

Improvement in Japan and the United States, but eurozone risk on the rise

In Coface’s view, the world economy is presently marked by divergence between the three major advanced zones: the economic contraction in the euro zone is worsening (-0.3% currently forecast in 2012 versus -0.1% previously), whereas North American growth is stabilizing at 2%, and activity is recovering in Japan, with 1.8% growth after posting -0.9% in 2011.

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30/01/2012
Country risk

The construction sector: persistent credit risk in most countries

The situation of companies in the construction sector closely reflects the world, regional and national economic trends. At a time when the world economy is characterized by divergences between countries, with a recession in the euro zone, there are significant disparities between countries and sub sectors. The construction sector was badly hit by the 2009 crisis, and a large number of payment incidents were still occurring in 2011.

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18/01/2012
Country risk

Coface Country Risk: Companies' solidity already impacted by the systemic crisis in Europe and political risks in emerging countries

On the occasion of its 16th Country Risk Conference, Coface is principally issuing a warning about the systemic nature of the current crisis, of which the Euro zone is the epicentre. In 2012, the European economy will be marked by a recession rate of -0.1%, while growth will stabilise in the USA at +1.6% and recover in Japan at +1.8%. This should prevent a return to the worst of the 2008-2009 crisis, characterised by a synchronised recession in all three advanced economic areas. Overall, growth in advanced economies will be 1.1% in 2012. Emerging countries should maintain growth at 5.1%, with a 0.6 point drop in GDP against 2011. Emerging European economies will be the areas most exposed to the intensification of the Euro crisis through both commercial and external banking credit channels.

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11/01/2012
Country risk

Switzerland offers demanding but profitable market for UK exports says Coface

UK exporters can benefit from a low risk of late payment and healthy profit margins in Switzerland but the market requires significant research and investment and local knowledge to succeed, according to Coface, the leading experts in assessing trading risk and business climate.

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