AM Best affirms Coface rating at A (Excellent) with a stable outlook
Global credit rating agency AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of ‘a’ (Excellent) to Coface and its main operating subsidiaries. This rating reflects the agency’s belief in the strength of Coface group’s balance sheet, operating performance, business profile, and enterprise risk management.
A Best’s Credit Rating (BCR) is a forward-looking, independent, and objective opinion regarding the relative creditworthiness of an insurer, issuer or financial institution. Noted in the ratings release, the agency highlights Coface’s consistent investment in pricing tools and data management capabilities to remain competitive as a leader in the global credit insurance market.
“I’m pleased to see our main operating subsidiaries – including Coface North America Insurance Company – recognized yet again with a rating at ‘A’ (Excellent) and stable outlook,” said Coface North America President and CEO Oscar Villalonga. “This rating reflects the diligence our team brings each day to our customers and company to ensure the strongest operating performance and risk management practices.”
Coface North America celebrates its 25th anniversary of selling trade credit insurance in the region this year. In addition to this recognition, Coface U.S. was also named a 2023 Great Place to Work.
With over 75 years of experience and the most extensive international network, Coface is a leader in trade credit insurance and risk management, and a recognized provider of Factoring solutions, Debt Collection services, Single Risk insurance, Bonding, and Information services. Coface’s experts work to the beat of the global economy, helping ~100,000 clients in 100 countries build successful, growing, and dynamic businesses. With Coface’s insight and advice, these companies can make informed decisions. The Group' solutions strengthen their ability to sell by providing them with reliable information on their commercial partners and protecting them against non-payment risks, both domestically and for export. In 2022, Coface employed ~4,700 people and registered a turnover of €1.81.
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