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COFACE SA: Fitch maintains Coface Ratings on Rating Watch Negative

Written by Customer Service on . Posted in Public Companies.

Paris, 14 May 2020 – 18:00COFACE SA: Fitch maintains Coface Ratings on Rating Watch NegativeFitch Ratings maintained, on May 14th 2020, Coface ratings on rating watch negative.Fitch has maintained all the ratings of Coface SA and its operating subsidiaries on Rating Watch Negative, with the exception of the short-term ratings of Coface SA, which has been taken off Watch Negative and affirmed at ‘F1’.In Fitch’s press release, the rating agency highlights “the strong liquidity of Coface, with cash representing 21% of the investment portfolio at end-March 2020, with no major near-term debt maturities due.”The rating agency continues to view Coface as “strongly capitalized and assumes that market value losses on insurance and factoring assets as well as insured credit portfolio put pressure on capitalisation metrics but do not cause significant capital depletion.”Fitch’s affirmation of the short-term ratings of Coface SA is based on the view that the likelihood of a downgrade of more than one notch of Coface SA’s long-term ratings is low under their ratings case assumptions.
FINANCIAL CALENDAR 2019 (subject to change)
H1-2019 results: 25 July 2019 (after market close)
9M-2019 results: 23 October 2019 (after market close)FINANCIAL INFORMATION
This press release, as well as COFACE SA’s integral regulatory information, can be found on the Group’s website:
http://www.coface.com/InvestorsFor regulated information on Alternative Performance Measures (APM),
please refer to our Interim Financial Report for S1-2019 and our 2019 Universal Registration Document.DISCLAIMER – Certain declarations featured in this press release may contain forecasts that notably relate to future events, trends, projects or targets. By nature, these forecasts include identified or unidentified risks and uncertainties, and may be affected by many factors likely to give rise to a significant discrepancy between the real results and those stated in these declarations. Please refer to chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2019 Universal Registration Document filed with AMF on 16 April 2020 under the number D.20-0302 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the Coface Group’s businesses. The Coface Group disclaims any intention or obligation to publish an update of these forecasts, or provide new information on future events or any other circumstance.Attachment2020 05 14 PR Fitch maintains Coface Ratings on Rating Watch Negative

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