Moody's upgrades Atradius’ IFS rating to A2

Press release

Madrid, 8 March 2018 - Grupo Catalana Occidente press release

The  rating  action  reflects  the  strengthening  of  the  financial  profile  of Atradius’  main  operating subsidiaries (Atradius Crédito y Caución and Atradius Re) over the past five years, and its strong market position as the second largest global credit insurer.

Moody's has upgraded the Insurance Financial Strength (IFS) rating for the main operational entities of Grupo Catalana Occidente in credit insurance to A2 from A3, with stable outlook. The agency states that this decision “reflects steady strengthening of Atradius’ financial profile over the past five years, including strong  and  consistent  profitability,  strengthening capital adequacy  and  improvements  in  its  risk management and reserving practices”.

In addition, Moody’s upholds Atradius’ strong market position as the second largest global trade credit insurer, and that it “continues to invest in defending and strengthening its market position”.  

 

 

About Grupo Catalana Occidente
Grupo Catalana Occidente is one of the leaders in the Spanish insurance sector and the global credit insurance sector. With steady growth and a broad reach, it has more than 7,300 employees, a presence in more than 50 countries and serves more than 4,000,000 customers. Its network consists of over 1,600 offices and nearly 19,000 mediators. It is currently ranked in sixth position in the Spanish market and second worldwide for credit insurance.

Disclaimer

The statements made herein are provided solely for general informational purposes and should not be relied upon for any purpose. Please refer to the actual policy or the relevant product or services agreement for the governing terms. Nothing herein should be construed to create any right, obligation, advice or responsibility on the part of Atradius, including any obligation to conduct due diligence of buyers or on your behalf. If Atradius does conduct due diligence on any buyer it is for its own underwriting purposes and not for the benefit of the insured or any other person. Additionally, in no event shall Atradius and its related, affiliated and subsidiary companies be liable for any direct, indirect, special, incidental, or consequential damages arising out of the use of the statements made information herein.