COFACE SA: Fitch affirms Coface AA- rating, with an outlook ‘stable’
Source: GlobeNewswireParis, 09 December 2021 – 18:30
COFACE SA: Fitch affirms Coface AA- rating, with an outlook ‘stable’
The rating agency Fitch, on 9 December 2021, affirmed Coface AA- Insurer Financial Strength (IFS) rating. The outlook remains stable.
The AA- IFS ratings of Compagnie Française d’Assurance pour le Commerce Extérieur SA and Coface North America Insurance Company have also been affirmed with a stable outlook.
The rating action reflects “Coface’s very strong company profile and capitalization, as well as a strong profitability through the cycle”.
In Fitch’s press release, the agency rating recognizes Coface’s “very strong, well established and diversified franchise in the global trade credit insurance sector”.
Fitch views Coface’s financial performance “as strong across the economic cycle, underpinned by underwriting profitability and effective risk management and reinsurance”.
| CONTACTS | |
| MEDIA RELATIONS Saphia GAOUAOUI T. +33 (0)1 49 02 14 91 saphia.gaouaoui@coface.com Corentin HENRY T. +33 (0)1 49 02 23 94 corentin.henry@coface.com | ANALYSTS / INVESTORS Thomas JACQUET T. +33 (0)1 49 02 12 58 thomas.jacquet@coface.com Benoit CHASTEL T. +33 (0)1 49 02 22 28 benoit.chastel@coface.com |
FINANCIAL CALENDAR 2021/2022 (subject to change)
FY-2021 results: 15 February 2022 (after market close)
Q1-2022 results: 28 April 2022 (after market close)
Annual General Shareholders’ Meeting 2021: 17 May 2022
H1-2022 results: 28 July 2022 (after market close)
9M-2022 results: 27 October 2022 (after market close)
FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website:
http://www.coface.com/Investors
For regulated information on Alternative Performance Measures (APM),
please refer to our Interim Financial Report for S1-2021 and our 2020 Universal Registration Document.
| Coface: for trade With 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and adjacent specialty services, including Factoring, Single Risk insurance, Bonding and Information services. Coface’s experts work to the beat of the global economy, helping ~50,000 clients build successful, growing, and dynamic businesses across the world. Coface helps companies in their credit decisions. The Group's services and solutions strengthen their ability to sell by protecting them against the risks of non-payment in their domestic and export markets. In 2020, Coface employed ~4,450 people and registered a turnover of €1.45 billion. www.coface.com COFACE SA is quoted in Compartment A of Euronext Paris Code ISIN: FR0010667147 / Mnémonique : COFA |
DISCLAIMER - Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group's 2020 Universal Registration Document filed with AMF on 31 March 2021 under the number D.21-0233 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group's businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.
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