What's new

Country and Sector Risk Barometer Q3 2023: Macroeconomics put to the test by microeconomic deterioration

All the leading indicators point to a sharp slowdown in activity in North America and the Eurozone towards the end of the year, and the recovery of the Chinese economy has rapidly collided with structural weaknesses and a lack of confidence among households and businesses. In this context, we have modified 7 country risk assessments (2 upgrades and 5 downgrades) and 33 sector risk assessments (17 upgrades and 16 downgrades).
More in our latest barometer.

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COFACE SA: Moody's upgrades Coface's main operating company to A1 IFSR, stable outlook

The rating agency Moody’s, on 28th September 2023, has upgraded the financial strength rating (Insurance Financial Strength Rating – IFSR) for Coface to A1 from A2. The agency has also changed the outlook for Coface to stable from positive.

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Coface launches API Portal, a new digital platform dedicated to API solutions

This portal offers Coface’s customers a complete suite of API solutions developed by Coface to enable them to integrate its services, expertise and unique data directly into their business ecosystem.
This initiative illustrates Coface's willingness to provide higher connectivity to its customers via advanced digital solutions designed to optimise credit risk manageme

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On the way back to the bad old times in 2023's Germany Payment Survey

Although payment behaviour remains in a relatively good shape even after this deterioration, companies are very pessimistic about their business outlook.
Learn more in our full publication.

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El Niño, a threat to global agriculture

The El Niño weather phenomenon, which is due to return in the 2nd half of 2023, is set to amplify the effects of climate change. Coface's forecasts point to major uncertainties for certain agricultural commodities (cereals, sugar, palm oil, citrus fruit) in the medium term, and significant risks for food security in certain regions of the world. Read our press release here.

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Debt sustainability in Africa under the spotlight again

The successive shocks linked to the COVID pandemic and the war in Ukraine have had a clear negative impact on African economies. They have revealed, materialized and even exacerbated major structural weaknesses. Over-indebtedness and food insecurity, with their economic, political and social ramifications, are the chief hallmarks. Read our press release about it here.

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Lost illusions and great expectations in our latest Country and sector risks Barometer

The year 2023 began with great enthusiasm, but in all likelihood it will not be the year that most observers were expecting. The 1st half of the year has reinforced some of our convictions... Read them and our economists' forecasts now.

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Agricultural commodities under pressure

High production costs, trade tensions and increased weather risks will continue to weigh on global agricultural production in the months ahead.
Read our outlook on agro-food sector

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Energy sector: outlook and opportunities in our latest podcast

Highlights from a new episode of the "Trade Talk" podcast with our chief economist Jean-Christophe Caffet, and Marc-Antoine Eyl-Mazzega, Director of the Energy & Climate Center at IFRI.

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Transport sector: Recovery takes hold for air transport

While the global macroeconomic outlook remains uncertain, the transport sector has recorded the highest number of risk assessment upgrades in the latest Coface barometer.
Read our expert's analysis now.

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To hike or not to hike? Bank of England’s great dilemma

On May 11, the Bank of England (BoE) decided to raise its key interest rate for the 12th time in a row, bringing it to 4.5%. At its latest meeting, the BoE stated that it would stay the course to ensure that inflation returned to 2%, and did not rule out further hikes if there are signs of persistent inflation. The latest figures show a slowdown in headline inflation, from 10.1% in March to 8.7% in April, but core inflation reached its highest level in 30 years.
Read our press release to learn more.

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Companies in China report shorter payment delays in 2022 and expect higher economic growth in 2023

Coface’ survey shows that fewer firms encountered payment delays in 2022. 40% of respondents reported overdue, down from 53% in 2021. The average payment delay was shortened from 86 to 83 days in 2022. More information here and in our publication.

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US: Economic resilience could be further tested by a debt ceiling showdown

The United States could run out of cash as early as June 1 if Congress does not suspend or raise the debt ceiling.

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United Kingdom: Corporate insolvencies are going from zero to a hundred after end of government support measures

In 2022, around 23,400 companies went bankrupt in the United Kingdom, causing corporate insolvencies to reach its highest levels since the 2009 Global Financial Crisis “GFC”.

Read our analysis of this rapid rise in insolvencies.

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The agreement on cereal shipments in the Black Sea will not be enough to solve all the challenges of the agri-sector in 2023

Although the agreement concerning the cereals transit in the Black sea has contributed to ease the pressure on cereals supply, its effects are limited and grey areas on the food security of many countries persist.

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Our clients trust us: Denmaur renews and extends its long-term policy

Good response times, risk underwriting expertise, collaborative approach… Denmaur, one of the UK’s leading paper suppliers, recently renewed its credit insurance agreement with Coface, a long-term partner.

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A further tightening of the oil market

In early April, Saudi Arabia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman announced combined oil output cuts of more than 1.1 million barrels per day (b/d), surprising the markets. This commitment follows a first production cut announced in October 2022 by OPEC+. It comes in addition of Russia's decision to cut output by around 500,000 b/d in reaction to the implementation of a EU ban on seaborne imports of Russian oil and oil products.

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Coface x Rel8ed: “Nowadays, Data Science is a key component of Risk Management”

Recently acquired by Coface, Rel8ed is a specialized data analytics boutique, which develops innovative solutions leveraging Big Data and AI. How can our trade credit insurance and Business Information clients benefit from the pooling of expertise? Bob Lytle, General Manager and founder of Rel8ed, shares more here.

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Appointment of Grishma Kewada as Coface country manager for Singapore

Coface is pleased to announce the appointment of Grishma Kewada as Country Manager for Singapore effective April 1st 2023.

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Coface celebrates its 100th anniversary in Germany

Coface Germany celebrates its 100th birthday! The company was founded in March 1923 in Mainz on the initiative of Isaac Fulda, a local banker.
To mark this milestone, Coface is looking back on its history in the country.

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