S&P Downgrades Atradius Threatening the Lifeline for Trade Credit

Posted by Joachim Bartels | Oct 28, 2012 | Atradius, Credit Insurance, Member, Member News, Netherlands, Spain | 0 |

S&P’s downgrade of Atradius has rattled the credit insurance industry this week. S&P had downgraded Atradius from A to BBB. The downgrade came as a result of a downgrade of Spain’s sovereign debt, because the main shareholder of Atradius is the Spanish based Grupo Catalana Occidente and thus subject to sovereign debt exposure. S&P warns that if it has to down grade Spain again, it would have to downgrade Atradius accordingly.

Atradius market share of the credit insurance market is approximately 30%. Atradius said it was financially strong and well capitalized. Source: Financial Times

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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