COFACE AIMS TO BE A FACTOR IN CREDIT RATING: Coface will constantly strive to restore confidence in financial ratings: by actively participating in the debate concerning the future European regulation on ratings requesting that this regulation includes a proper external statistical quality control, and by becoming a financial rating agency itself together with the Big Three Anglo-American agencies. Coface financial rating for “company” risks is based on three exclusive strong points: cost, reliability, and 60 years of risk-taking expertise as a credit insurer. This product, at the test phase in Europe and in Asia, will be marketed in 2009 and submitted for the approval procedure currently debated in the European Parliament. It will provide companies with a tool to communicate with their commercial, strategic or financial partners in a convincing and inexpensive manner on their financial strength.

COFACE Service lines (rating and business information, receivables management and public guarantees) have grown by 8.2%. The information offering is available in 65 countries, and launch of Coface’s financial rating is making headway. The worldwide receivables management network has been strengthened by acquisitions in Argentina and the Netherlands.   Source: Company Press Release

BIIA Newsletter April 2009 Issue