Moody's Affirms the A2 IFSR of Coface with a Stable Outlook

Moody's has affirmed the A2 insurance financial strength rating of Coface, the international credit insurer, and the associated Baa1(hyb) guaranteed subordinated debt rating. All ratings carry a stable outlook, Moody’s said.

“The A2 IFSR of Coface reflects the group's good position in the global credit insur-ance industry, its good economic capitalisation and underwriting profitability through the cycle underpinned by Coface's dynamic management of the exposure and effec-tive underwriting risk monitoring tools.”

Coface launched a partial IPO (59%) of its capital on the Euronext stock exchange in 2014. Although Natixis remains Coface's largest shareholder at 41%, Natixis had an-nounced its intention to dispose gradually its stake in Coface by 2017.