Coface, the leading international credit insurance and credit management services group, announced the launch of a new rating agency for corporations at the May 2009 Coface Credit Risk Conference in Hong Kong. Hong Kong is to be one of the first five countries and regions (with France, Germany, UK and Dubai), where Coface introduces its new rating service.

The new service consists of a corporate rating, similar to the ratings proposed by the “Big 3” rating agencies: Standard & Poor’s, Moody’s and Fitch Ratings, and expressed with letters in a standard scale (from AAA to D). However Coface’s rating business model is different. “We will only propose our rating to companies we already assess and monitor on a day-to-day basis, because Coface has a high credit exposure through its credit insurance clients,” said Jerome Cazes, CEO of Coface.

“Thanks to this original business model, Coface’s new rating is an answer to what has been learned of the role of ratings in this crisis. It is as global as its competitors, but more focused, less costly, more independent and responsible” said Mr. Cazes.

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BIIA Newsletter September 2009 Issue