Coface Group


The ratings awarded to Coface, by Moody's, Fitch, and AM Best reflect its strong financial strength

The Company and some of its subsidiaries are assessed by well-known ratings agencies. The Company rating can vary from agency to agency.
The main ratings for the Company and its principal operational subsidiary are as follows:
ratings en
The ratings shown above can be subject to revision or be withdrawn at any moment by the ratings agencies awarding them. None of these ratings represent an indication of past or future performance of Coface shares or debt issued by the Company and should not be used as part of an investment decision. The Company is not responsible for the accuracy and reliability of these ratings.
1 COFACE SA is the holding company of the Coface Group. As a decision-making and management body, COFACE SA is a non-operational holding company and plays a vital financial role in the Coface Group, performing management, financing and advisory activities for its subsidiaries. The principal operating subsidiary of the Coface Groupe is Compangie française d’assurance pour le commerce extérieur.



Coface is rated A2, outlook stable since February 2021.

“The A2 insurance financial strength (IFS) rating of COFACE SA's (Coface, Baa1 stable) lead insurance entity, Compagnie Francaise d'Assurance pour le Comm. (the Compagnie) reflects (i) the group's strong position in the global credit insurance industry, (ii) good economic capitalisation, underpinned by Coface's dynamic management of insured exposure and effective underwriting risk monitoring tools, and (iii) good underwriting profitability through-the-cycle, exemplified by the strong profitability reported in 2018 which continued in 2019.

October 21st 2019 – Credit Opinion – Moody’s


2020 03 27: See Moody's detailed rating action

2019 10 21: See Moody's detailed credit opinion



Coface is rated AA- outlook stable since April 2021

  1. In Fitch’s press release, the agency rating recognizes Coface’s “very strong, well established and diversified franchise in the global trade credit insurance sector” and views Coface’s financial performance “as strong across the economic cycle, underpinned by underwriting profitability and effective risk management and reinsurance”.

    9 December 2021 – Press release - Fitch


2021 12 09: Fitch Press release

2021 12 09: PR Fitch raises the outlook for Coface

2021 12 14: See Fitch "Navigator"



Coface is rated A (excellent), outlook stable since Feb. 2020

AM Best highlights that this rating “reflects Coface’s balance sheet strength, which AM Best assesses as “very strong”. This strength is underpinned by a consolidated risk-adjusted capitalization at the strongest level as measured by the Best’s Capital Adequacy Ratio (BCAR) score.AM Best also acknowledges that despite deteriorated economic conditions, Coface has reported good technical results in 2020 with a net combined ratio at 79.8%.”


19 March 2021 – Press Release - AM Best


2021 03 19 Coface press release

2021 03 18 AM Best Press release

  • English
  • Français