Coface reduces risk rating for Germany, Poland without changes

Business intelligence company Coface has downgraded the risk assessment for Germany from A1 to A2. It has also downgraded the assessment for three countries dependent on the German economy: the Czech Republic, Slovakia and Austria. Poland’s rating has remained unchanged. Coface has also reduced its risk assessment for the automotive industry in 13 countries around the world, including Poland.

“The decline in world trade in the first half of the year has been confirmed and even if the forecasts regarding a slight rebound in the second half of the year are true, the Coface barometer indicates that the decline will amount to 0.7 percent y/y. The global GPD growth will fall from 3.1 percent in 2018 to 2.7 percent in 2019 and then remain stable in 2020. In this context, Coface predicts that most countries should experience an increase in corporate insolvencies this year,” the company said in a release.

(ISBnews)