The credit insurance company Coface has announced that Moody's has upgraded its Insurance Financial Strength (IFS) rating from 'A2' to 'A1', and changed its outlook from 'positive' to 'stable'.

This upgrade reflects 'the group's growing diversification as well as the strengthening of monitoring and improved management of credit risk exposures', but also a good level of capitalization and very strong profitability in recent years.

Coface is on track to successfully finalize its Build to Lead strategic plan, and is actively preparing the next chapter, which will be presented to the market on March 5, 2024", commented Phalla Gervais, Coface's Director of Finance and Risks.

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