News and Publications

What's new

11/18/2019
Country risk and economic studies

All the News

02/12/2019
Country risk and economic studies

Two pitfalls for businesses in 2019: the economic downturn and political risks

Coface will be sharing its vision of the major trends in the world economy in 2019 with businesses at its annual conference on country and sectoral risks.

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01/25/2019
Country risk and economic studies

Corporate insolvencies in France: The rebound that began in May 2018 is expected to continue in 2019

Since May 2018, the number of insolvencies in France has started to rise again. This trend is expected to continue in 2019 (forecast of 1%) (...)

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12/20/2018
Country risk and economic studies

Tighter liquidity in Asia : not all gloom and doom in 2019

Asia has been under pressure following tighter global liquidity in 2018. Coface’s index for measuring relative vulnerability to outflows points to increasing divergence in Asia (...)

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12/06/2018
Country risk and economic studies

French companies in 2019: Rise in insolvencies

In the third quarter of 2018, after two years of improvement, French companies experienced a reversal of the trend with the number of insolvencies increasing by +2.3% (...)

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11/26/2018
Country risk and economic studies

SMEs in China: Monetary easing won’t be sufficient to reduce credit pressure

When considering risk in the Chinese economy, a lot of the discussion has focused on large State-Owned Enterprises (SOEs) or large private conglomerates (...)

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11/19/2018
Country risk and economic studies

Wind energy industry: Production costs will increase under the influence of the trade war and the liquidity squeeze

Alongside other renewables, wind energy has experienced a strong growth since the mid-2000s across the world (...)

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11/16/2018
Country risk and economic studies

US protectionism: Significant knock-on effect on trade partners of targeted countries

Increased protectionism is affecting a large number of economies – both advanced and emerging (...)

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11/07/2018
Country risk and economic studies

Coface announces CEE Top 500 companies: Household consumption boosts economic activity in CEE

The international credit insurance company Coface presents its tenth annual study on the biggest 500 companies in Central and Eastern Europe – the Coface CEE Top 500. It ranks the businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The trend of the CEE Top 500 reflects developments in the region.

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10/18/2018
Country risk and economic studies

Country and sector risks worldwide Some emerging economies become increasingly vulnerable

Higher oil prices and continued capital outflows from emerging markets mark the third quarter of 2018 (...)

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10/11/2018
Country risk and economic studies

Central & Eastern European insolvencies: The good times are over

Despite economic acceleration in the region, insolvencies increased by +6.4% in 2017

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09/20/2018
Country risk and economic studies

Political risks in Asia are on the rise

According to Coface’s Political Risk Index, Asia scored 45% on the latest risk ranking, above the world average of 35% (...)

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08/22/2018
Country risk and economic studies

Greece's exit from the international bailout programme: Greek companies are experiencing a revival - more competitive and less indebted

Multiple signs of an economic recovery in Greece. Reforms have helped to clean up public accounts, restore Greece's credibility and strengthen confidence.

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07/19/2018
Country risk and economic studies

France’s loss of market share in Africa benefits several European countries, China and India

While France’s trade balance has remained in surplus, its market share of exports to Africa halved from 11% in 2000, to 5.5% in 2017.

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07/11/2018
Country risk and economic studies

Country and sector risks worldwide: Signals of risk on the increase in the 2nd quarter

Downgraded assessments in the majority this quarter

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06/11/2018
Country risk and economic studies

Global metals sector: prices to continue to rise in 2018, ahead of a possible slight decline in 2019

On the back of highly-synchronised economic growth, technological shifts boosting a surge in the use of metals and a shortfall in supply, metals have been benefitting from a bull market since mid-2016 (...)

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06/04/2018
Country risk and economic studies

Election season in Latin America: Growing political risks undermine economic activity

The Coface Political Risk Index takes into consideration various risk aspects: (...)

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05/22/2018
Country risk and economic studies

Western Balkans’ accession to EU membership likely to be completed - supported by the region’s strategic importance

The European Union - Western Balkans Summit will take place in Sofia, Bulgaria, on the 17th of May 2018. This meeting aims to reaffirm the EU’s commitment towards the Western Balkans gaining EU membership.

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05/15/2018
Country risk and economic studies

Africa: diminishing reserves increase risks of another crash

Adversely affected by the slump in raw material prices, most African currencies lost over 20% of their value between 2013 and 2016

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05/10/2018
Country risk and economic studies

New Mediterranean trade routes will be through the South and East of the region

In the Mediterranean, the recent rise in protectionism is starting to transform the vast network of free trade agreements and reshape intra-Mediterranean trade routes. Two new trends are emerging.

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05/02/2018
Country risk and economic studies

China Corporate Payment Survey 2018

The aim of this exercise is to better understand corporate credit management practices and payment experiences. In our latest survey, data collection was conducted during the final quarter of 2017, and valid responses were received from 1,003 companies.

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04/27/2018
Corporate news

Coface results for the first quarter 2018:

Net income of €35.5m and RoATE(1) at 8.8%; Fit to Win execution drives profitability in a supportive economic environment

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04/20/2018
Corporate news

Country and sector risks worldwide - 1st quarter 2018

Now that peak growth has been reached in the United States and Europe, businesses are preparing for supply side constraints and the risk of protectionism

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03/30/2018
Country risk and economic studies

Central and Eastern Europe: Political risks on the rise but no impact yet on local businesses

With the wave of ongoing elections in countries such as Hungary, Czech Republic, Poland and Slovenia, Central and Eastern Europe is undergoing a major period of change against the background of economic growth that is still strong (...)

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03/22/2018
Country risk and economic studies

Regional economic ambitions of China and Japan show striking parallels

According to Coface, China and Japan are becoming competitors for trade and investment in the Asia Pacific region (...)

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03/15/2018
Country risk and economic studies

Poland Payment Survey 2018: Payment delays mounting amid robust economic growth

According to our analysis, covering a wide range of company sizes and sectors, sales on credit are made extensively, with all surveyed companies having written terms and conditions to this end, and that 99% of corporates continue to face payment delays, some of which are long and unlikely to be fulfilled.

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03/12/2018
Country risk and economic studies

NAFTA renegotiations - could Mexico’s “high-risk” automotive industry deteriorate into a crisis?

Mexico’s automotive industry plays an important role in its economy (...)

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02/13/2018
Corporate news

Full-year results 2017: Coface doubles net income to €83.2m

Turnover: €1 354.9m, up 0.3% at constant scope and exchange rates. Net loss ratio 51.4%, improved by 14.1 pts; annual net combined ratio at 86.6%.

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01/31/2018
Country risk and economic studies

2018: the upturn continues

During its annual conference on country and sector risks, Coface shares with companies its vision of the major global economic trends for 2018

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01/09/2018
Country risk and economic studies

Turkey records dynamic growth but is increasingly vulnerable to external factors

Turkey’s economy recorded substantial growth during the first three quarters of 2017, up by 7.4% compared to a year earlier. This was achieved despite the series of shocks which occurred in the country in 2016 (...)

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12/10/2017
Country risk and economic studies

Poland Insolvency Report: Insolvencies and restructuring proceedings still on the rise, despite a robust economy

Insolvencies and restructuration proceedings increased by 14% in the first three quarters of 2017 compared to the same period last year. Most sectors experienced an increase in the number of proceedings.

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12/07/2017
Country risk and economic studies

Germany’s corporate payment survey 2017

The second annual corporate payment survey for Germany carried out by Coface confirms many of the foregone trends. However, some improvements can be seen (...)

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11/21/2017
Country risk and economic studies

China's ambitions in sub-Saharan Africa: efforts to rebalance bi-lateral relations still needed

Almost twenty years after the launch of the first Forum on China-Africa Cooperation, China-Africa relations remain unbalanced. Bilateral trade has leaped over the past ten years (a total of $123 billion in 2016), driven, up to 2014, by exports, which have fallen by 51% since the peak.

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11/20/2017
Country risk and economic studies

Embargo on Qatar: Manageable for the time being, but not perennially

On June 5 2017, Saudi Arabia, the United Arab Emirates, Egypt and Bahrain (known as the quartet) announced they were breaking diplomatic ties with Qatar (...)

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10/12/2017
Corporate news

Pavel Brezina neuer Commercial Director für Österreich

Der internationale Kreditversicherer Coface verstärkt sein nationales Management: Dipl.-Ing. Pavel Brezina, MBA übernahm mit September 2017 die Funktion des Commercial Directors für Coface in Österreich.

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10/05/2017
Corporate news

New regional CEO for Central & Eastern Europe

Xavier Durand, Coface CEO, commented: “As we focus on executing our strategic plan, Fit to Win, these appointments bring a wealth of experience that helps drive our ongoing revitalisation and transformation into the most agile global trade credit partner in the industry.”

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10/01/2017
Country risk and economic studies

Country and sector risks: Europe remains the big winner in the world economic upturn

World economic growth might not yet be at its highest (2.9% in 2017 and 2018), but there can be no denying that there are healthy signs.

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09/30/2017
Country risk and economic studies

Morocco : Extended Payment Periods Across Practically All Sectors

Morocco Corporate Payment Survey, first half of 2017: Extended payment periods across practically all sectors: 99 days on average in 2017, up from 82 days in 2016

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09/29/2017
Country risk and economic studies

Financing businesses: the bond market is turning into a "spare tyre"...

Corporate bond financing: an advantage in times of crisis?

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09/28/2017
Country risk and economic studies

Coface announces CEE TOP 500 Companies

The CEE Top 500 companies generated a turnover of EUR 580 billion in 2016. The biggest companies experienced a decrease in turnover and net profit, but increased their workforces significantly. Automotive overtook oil & gas as the biggest sector for the very first time.

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09/15/2017
Country risk and economic studies

Infrastructure: the Achilles’ heel of development in Latin America

Weak development of infrastructure in the region. Poor record in improving investment rates

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09/08/2017
Country risk and economic studies

Infographic: CEE Top 500 companies

The CEE Top 500 companies generated a turnover of EUR 580 billion in 2016. The biggest companies experienced a decrease in turnover and net profit, but increased their workforces significantly.

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09/07/2017
Country risk and economic studies

Central & Eastern European insolvencies overview

2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European region, following a fall of 14% in 2015.

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08/04/2017
Country risk and economic studies

How could “Trumponomics” affect Latin America’s economies?

Political developments in the US have caused uncertainties over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions.

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07/27/2017
Country risk and economic studies

GCC banks urged to fine-tune liquidity management in order to address new economic cycle

The stagnation of low oil prices is weighing on liquidity conditions across Gulf Cooperation Council (GCC) countries. This is slowing down government fiscal revenues, (...)

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07/12/2017
Country risk and economic studies

Asia Corporate Payment Survey 2016: Tail risks are on the rise

Coface’s latest annual payment survey covered 2,795 corporates in the Asia Pacific region, focusing on 8 markets: Australia, China, Hong Kong, India, Japan, Singapore, Taiwan and Thailand. The survey also traced the evolution of corporate payments in 11 sectors (...)

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07/06/2017
Country risk and economic studies

Sector risk assessments 2nd quarter 2017

12 Major sectors assessed worldwide

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07/06/2017
Country risk and economic studies

Country and sector risks worldwide

The second quarter of 2017 marked a new start for Europe, Russia and, on the sector side, for the automobile and agrofood industries in several countries (...)

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06/16/2017
Country risk and economic studies

Russia is emerging from recession, but the structural constraints risk impeding its mid-term growth

The diversification of the Russian economy, made necessary by a slump in oil prices that is set to last, is coming up against structural constraints that may well have a deleterious effect on its mid-term growth.

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06/07/2017
Country risk and economic studies

Brexit: Despite several shocks, the United Kingdom will remain attractive for businesses

Businesses have proven their resilience since the referendum, but a downturn in investments is starting to be seen.
The fall in growth (1.4% in 2017 and 1.2% in 2018) will lead to a rise in the number of business failures, of 8.7%1 and 8%1 respectively

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05/31/2017
Corporate news, Product news

Coface places digital transformation at the heart of its strategy with launch of new customer portal

Coface’s new customer portal and fully revamped CofaNet online credit insurance contract management tool are being launched today. With the new solutions, customers will benefit from innovative features, unique access, customised content, advanced ergonomics, real time results displays and easier contacts.

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05/26/2017
Country risk and economic studies

New Coface survey shows optimism among UAE non-oil private companies

Coface, the worldwide leader in trade credit management solutions and risk information services, has published its first-ever Credit Opinion Survey for the UAE region (...)

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05/15/2017
Corporate news

Coface enhances the customer experience

One of the priorities of Coface’s three-year strategic plan is to enhance the service we provide to our clients.

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05/15/2017
Country risk and economic studies

Labour Shortages in the Central and Eastern Europe Region: An Opportunity for Households but a Threat for Local Companies

Developments in Central and Eastern Europe (CEE) labor markets have been beneficial for households. Rising wages and low inflation, combined with improving consumer confidence, have led to lower unemployment rates and an increase in private consumption.

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05/10/2017
Country risk and economic studies

Corporate payments improve in China in 2016 but ultra-long overdues are up under financial stress

A survey on corporate credit risk management, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of the respondent companies experiencing overdue payments in 2016 (...)

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05/06/2017
Country risk and economic studies

Infographics : Sector risk assessments - 1st quarter 2017

12 major sectors assessed worldwide

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04/07/2017
Country risk and economic studies

Country and sector risks worldwide - Business confidence is picking up again, despite persistent political risk

Main economic surprise of early 2017: the rise in business confidence is perceptible, but is not yet generating a positive widespread upturn in country and risk assessments.

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04/07/2017
Country risk and economic studies

Infographics: Sector risk assessments - 1st quarter 2017

12 major sectors assessed worldwide

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04/05/2017
Country risk and economic studies

New Coface Political Risk Index in 159 countries

The widespread rise in the political risk conceals mixed regional dynamics

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04/05/2017
Country risk and economic studies

Infographics : New political risk index for 159 countries

Conflicts grew by +100% between 2007 and 2015. 2017 likely to pay a heavy price, due to intensification of armed conflicts

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03/31/2017
Country risk and economic studies

RMB depreciation, capital flow measures and new monetary stance: What are the implications for Chinese corporates?

The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.

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03/08/2017
Corporate news

Coface results at 31 December 2016

“The second half of 2016 marks the beginning of the transformation of Coface. We delivered a net profit of €41.5m in the year, successfully closed the transfer of our French State export guarantees activity, and launched our 3-year strategic plan, Fit to Win, the (...)

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02/20/2017
Country risk and economic studies

First Brazilian Corporate Payment Survey 2016

Payment experience affected by the bleak economic scenario.
75% of interviewed companies received payment extensions requests from their clients;

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02/08/2017
Country risk and economic studies

Poland Payment Survey: Payment delays pervade Polish corporates

Coface’s payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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01/31/2017
Country risk and economic studies

Infografics - 2017: An economic upturn in the face of political risk

Four major risks for 2017 but some positives points...

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01/31/2017
Country risk and economic studies

2017: A year of political and banking risks for emerging countries

Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.

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12/23/2016
Country risk and economic studies

After a Series of Shocks in 2015 and 2016, Turkey’s Economy Is Coming to the End of its New “Tulip Era”

Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.

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12/23/2016
Country risk and economic studies

South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgrade

Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)

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12/20/2016
Country risk and economic studies

Uberisation of French economy: a positive impact on employment but will it last?

Taxi company insolvencies in France increased by nearly 60% in one year, rising from 141 cases in August 2015, to 224 at the end of August 2016 and resulting in the loss of 3.38 jobs on average (...)

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12/12/2016
Country risk and economic studies

Global sector risks in precarious balance

At the end of 2016, global sector trends remained mixed, including in the regions that until now have been relatively spared by the increase in risks. Over the whole year, across 12 sectors evaluated in six regions of the world, nearly half saw their assessments change. There were 23 downgrades for 10 upgrades.

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12/06/2016
Country risk and economic studies

German Economy in 2017: Stable, but not staid

The signs for Germany’s further economic development are promising, with a high level of stability. Coface’s expectations for solid growth therefore come as little surprise.

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11/30/2016
Country risk and economic studies

The first arrow of Abenomics: why is it not working?

Why did the yen depreciation, which occurred during the early success of the first arrow, not boost Japan’s merchandise export volumes?

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11/18/2016
Country risk and economic studies

Mexico’s Economy: more difficult times ahead

In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5 %, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.

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11/04/2016
Country risk and economic studies

Rising political risks in developed countries: the sword of Damocles hangs over Europe’s major economies

Periods of economic crisis naturally lead to heightened political uncertainty and this aspect is crucial in assessing country risks

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11/04/2016
Country risk and economic studies

Infografics - Is political risk a new threat for the global economy?

European political calendar: crucial deadlines

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10/20/2016
Country risk and economic studies

Further downgrades triggered by the Brexit shock and falling oil revenues

Global growth: stability in developed countries, slight improvements among emerging economies

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10/14/2016
Country risk and economic studies

Latin America: why are manufacturing exports still lackluster?

Foreign trade is unlikely to be a main contributor to the growth of Latin American economies over the next few years

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10/10/2016
Corporate news

Fitch affirms Coface AA- rating

Fitch Ratings issued, on September 29th 2016, a press release on Coface in which the agency affirms the Group’s Insurer Financial Strength (IFS) rating at 'AA-', Outlook Stable.

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09/26/2016
Country risk and economic studies

Poland Insolvency Report: Insolvencies fall amid fair economic growth

Poland’s economy is slowing this year, although the growth rate will remain fair: 3.2% for 2016, following 3.6% in 2015
Business is benefiting from positive macroeconomic conditions
Insolvencies and restructuration proceedings fell by over 14%. Coface forecasts further improvements, with the number of proceedings falling in 2016 and 2017

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09/23/2016
Country risk and economic studies

The French economy: a temporary pause in growth

Q2 impacted by external shocks
2016 growth forecasts remain positive at 1.6%
Non-financial corporate debt: an upward momentum unique in Europe but far below alert thresholds

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09/19/2016
Country risk and economic studies

Coface publishes CEE TOP 500 Companies

Biggest players benefit from favourable business conditions in CEE
• Booming economy: +4.2% increase in turnover
• Poland wins again, Czech Republic climbs to second place, followed by Hungary
• Sectors: 12 out of 13 sectors report increase in turnover - only oil & gas remains in difficulties

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09/15/2016
Country risk and economic studies

Agrofood in North Africa: a strategic sector at nature’s mercy

Several favourable factors are boosting the sector, including rising populations, increasing demand for processed food, higher per capita incomes and improved production capacities. Infrastructures, climate and government strategies are major influencers.

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09/13/2016
Country risk and economic studies

Pharmaceutical companies in the United States face two opposing scenarios for their business: "optimistic" or "pessimistic”

Despite strong private and public investments, health indicators in the United States are below average compared to the 12 most advanced countries

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08/30/2016
Country risk and economic studies

New Germany Corporate Payment Survey 2016

Despite the solidity of Germany’s economy, payment delays are still commonplace

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08/25/2016
Country risk and economic studies

China’s two-speed economy: Sector winners and losers

China’s economy grew by 6.9% in 2015, the slowest expansion pace in 25 years. Growth should continue to slow in 2016 and 2017, and will probably undershoot the government’s average annual growth target of 6.5% - as set out in the 13th five-year plan for 2016-2020.

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08/02/2016
Country risk and economic studies

Sector assessments revised in 6 global regions

Sector risks are still increasing in emerging markets

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08/02/2016
Country risk and economic studies

United Arab Emirates: A new era of slower growth

High level of diversification does not make the UAE totally immune from the energy prices fall, retail and tourism challenged (..)

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07/18/2016
Country risk and economic studies

Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries

Company insolvencies in central, eastern and northern Europe: Positive trends but the decline will be slower than in 2015 in some countries

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07/14/2016
Country risk and economic studies

Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favourable economic conditions

Countries in the Central and Eastern Europe region enjoyed favourable economic conditions last year. This led to an improved situation for CEE businesses. The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%. The region showed a varied picture, with double-digit deterioration recorded in Ukraine and Lithuania, whereas Romania and Hungary enjoyed significant improvements. Coface forecasts that businesses will continue to take advantage of supportive conditions and that company insolvencies will drop by -5.3% in 2016.

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07/08/2016
Country risk and economic studies

EURO 2016: the final as seen by Coface economists

EURO 2016: the final as seen by Coface economists!

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07/07/2016
Country risk and economic studies

Despite persistent crises, sub-Saharan Africa presents opportunities in 2025 time-frame

Heavily impacted by the Chinese slowdown and the fall in commodity prices, sub-Saharan Africa posted its lowest level of growth since 2008. 15 countries, including several that have been severely impacted by cri-ses, show significant potential in terms of consumer spending. Two sectors offer medium-term opportunities: retail and ICT

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07/07/2016
Country risk and economic studies

Infographics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frame

15 countries identified as having high potential consumer markets

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07/06/2016
Country risk and economic studies

World corporate risk reaches peak levels

Forecast world growth for 2016 down by 0.2 points to 2.5%. The average level of global risk corresponds to B, « significant risk ». Increasing numbers of emerging markets included in the "extreme" and "very high" risk categories. Three leading world economies become fragile. China penalises activity in several Asian countries. Europe facing positive dynamics, but political risk driven by the Brexit must be monitored.

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06/29/2016
Country risk and economic studies

Insolvencies in Northern Europe: Positive trends in the Netherlands, Sweden and Germany

Europe’s improved macroeconomic situation has had favorable effects on businesses in most European countries and led to fewer insolvencies in 2015 in the four Northern (..)

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06/13/2016
Country risk and economic studies

No improvement in Asia Pacific corporate payments in 2015

Coface’s annual survey on Asia-Pacific economies questioned 2,793 companies in 8 markets (...)

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06/06/2016
Country risk and economic studies

24 nations warming up for the euro 2016

Country risk assessments of qualified countries: their current form

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06/02/2016
Country risk and economic studies

Is the French economy definitely taking off?

A number of positive indicators for the French economy appeared between January and April 2016.

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05/25/2016
Country risk and economic studies

What to expect from Brazil’s perfect storm?

Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff (...)

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05/19/2016
Country risk and economic studies

Hungary: Private consumption rising but challenges remain for corporates

Hungary is performing well, considering the context of struggling economies globally.

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05/12/2016
Country risk and economic studies

Sector risks remain under pressure in the emerging markets

Global growth at half-mast (2.7% projected by Coface for 2016), under the impact of the highly volatility financial markets and continuing low oil prices, is compromising the health of industries analysed by Coface. (...)

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05/12/2016
Country risk and economic studies

Infografics: Sector risk assessments • 1st half 2016

12 major sectors assessed worldwide.

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05/12/2016
Country risk and economic studies

Infografics - Steel: faced with global overcapacity

Metals industries, the world's riskiest sector. Over-capacities remain. Outlook: return to normal for 2018.

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05/12/2016
Country risk and economic studies

Steel overcapacity around the world: risk reaches a high in 2016

Following a long period of increasing demand, driven by China in the 2000s, steel is suffering from weak growth in the global economy.

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05/06/2016
Corporate news

Coface Q1-2016 results: A tough quarter in a polarized environment

This has been a tough first quarter. Business turnover and profits were lower compared to the same period last year, against the backdrop of a polarized and volatile economic environment.

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04/06/2016
Country risk and economic studies

Czech Republic, Poland, Chile, and Thailand closest to a quick upturn in exports

Although the current crisis in emerging countries is surprising in its intensity, with their growth cut in half in five years and increased exposure (...)

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04/01/2016
Country risk and economic studies

Quarterly update of Coface country risk assessments

The global economy is becoming more Japanese: world growth remains low, despite ultra-expansionist monetary policies (...)

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03/29/2016
Country risk and economic studies

Few companies in China spared from overdue payments: 80% of corporates affected in 2015

Slower growth, rising non-performing loans, RMB and stock market volatility are all concerns for China in 2016 (...)

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03/23/2016
Country risk and economic studies

Iran: Sharp turn ahead, drive carefully

After five years of sanctions, Iran is finally to rejoin the global community. The return of Iran should have an effect on international growth via the oil channel but, above all, will bring huge changes to Iran itself.

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03/04/2016
Country risk and economic studies

Risks for German exports have risen significantly

Coface: The greater export risks faced by German companies are hampering growth performance.

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02/24/2016
Country risk and economic studies

Panorama: Company insolvencies in France

Lessons learned 2015, hope in 2016: situation of companies returning to normal

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02/09/2016
Corporate news

Coface 2015 results: net income €126M and proposed dividend stable at €0.48 per share (5)

At the end of 2015, a year marked by a deterioration in the global economic environment, Coface recorded a slight increase in net income (group share), at €126M (€125M in 2014).

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01/26/2016
Country risk and economic studies

Country Risk Barometer Key challenges of 2016

Three risks to monitor in 2016: weak growth, political tensions and company debts in emerging economies
- Advanced economies: many causes for concern, including financial market volatility, cheap oil and the Chinese slowdown
- Emerging countries: in addition to sluggish growth, increasing indebtedness of companies
- Increased political risks likely to affect business confidence in all regions

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01/15/2016
Corporate news

The Board of Directors of Coface announces the appointment of Xavier Durand as Chief Executive Officer

This appointment will become effective following the Board of Directors’ meeting to be held on 9 February to approve the accounts for fiscal year 2015. Jean-Marc Pillu will continue in his role as Chief Executive Officer of Coface until this date.

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12/22/2015
Country risk and economic studies

Poland Retail Panorama: Household spending is supporting the economy but challenges remain

The Polish retail sector benefits from increasing household consumption and rising consumer sentiment. As a result retailers have been able to generate higher turnover, but an intense competition and deflation period imposed reduced margins and low profits.

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12/17/2015
Country risk and economic studies

Europe’s qualitative wine production model resists competition

French and Italian producers are not suffering from the new world competition on low and mid-level products while Spain is more vulnerable

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12/17/2015
Country risk and economic studies

Sector assessments in the world, the persistence of high risks

Marked by the commidities price fall and the slowdown in sales, 2015 requires a greater control over risks

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12/04/2015
Country risk and economic studies

French companies are starting to benefit from a tenuous recovery, although certain sectors remain at risk

Coface economists estimate a growth of 1.1% for 2015 and 1.4% for 2016. Company insolvencies are down, although the level remains high (...)

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12/04/2015
Country risk and economic studies

Construction: the Achilles' heel of the French economy

Following a long period of stagnation, construction in Europe is showing signs of recovery. In France it is the only sector, out of the fourteen studied by Coface, to be rated as very high risk (...)

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11/24/2015
Country risk and economic studies

Egypt: slow recovery and structural challenges

Coface forecasts growth of 4.4% for 2015/2016.

Read More
11/18/2015
Product news

Coface launches Policy Master - Customized service tool enables more efficient credit insurance management

Coface pursues its strategy of innovation, expanding its online offer with Policy Master, an online application that will help clients in handling their policy more efficiently. With this new tool Coface facilitates credit organisation teams’ risk management by reducing administrative work and introducing alerts and notifications for clients.

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11/06/2015
Country risk and economic studies

Brazil: no quick fix for the crisis

Brazil, downgraded to B (significant risk of businesses defaulting) by Coface in September, has been facing a scenario of economic juggling (...)

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10/28/2015
Corporate news

Focus on the future of solar energy in Europe: photovoltaics

Despite competition from China and the end of subsidies, the revival of the European photovoltaic industry seems likely.
Although photovoltaics only accounts for 5.3% of total electricity consumption in Europe, this sector has benefited from worldwide momentum in favour of "greener" energy consumption. Between 2004 and 2012 European electricity from photovoltaics increased sharply, from 0.7 to 62.4 billion KWh. This growth was driven by Germany, Spain and Italy, where 80% of Europe's photovoltaic facilities were located. The sudden expansion of photovoltaics was made possible by favourable government policies (a system of renewable purchase obligations and subsidies), plus the sharp and continued drop in the price of installations, intensified by Chinese competition. Europe led the field at that time, accounting for 75% of worldwide production in 2012.

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10/22/2015
Country risk and economic studies

Quarterly sector risk assessments update

Energy is more risky than ever, while Information and Communication Technologies is the only sector to receive a positive revision and Automotive is adjusting

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10/21/2015
Country risk and economic studies

Half year 2015 Insolvency Report: Poland continues on improvement track

Poland’s increased economic activity has already reached the levels required to stabilise the number of company insolvencies.

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10/12/2015
Country risk and economic studies

Is a Chinese shadow cast over Asia?

China is trying to find a way to achieve healthier, more sustainable growth, but this is not completely painless for its economy – or for those of its neighbours. According to Coface estimates, growth is unlikely to exceed 6.7% in 2015 and 6.2% in 2016, compared with 13.4% over the period 2006-2007. This is mainly a result of the technological and capital catch-up process running out of steam: several industries are suffering from overcapacity and corporate indebtedness is high, thus impacting investment. (...)

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10/01/2015
Country risk and economic studies

Latin America: what life after the commodity burst?

Growth in Latin America has been slowing down since 2011. This lacklustre situation, caused by weak domestic fundamentals, has been exacerbated by cyclical factors experienced since the second half of 2014. In 2015 we have ob-served a further deterioration of this (...)

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09/29/2015
Country risk and economic studies

How Gulf Cooperation Council countries (GCC) are dealing with falling oil prices

As oil continues to be a major contributor to economic performance in the GCC, economic diversification is vital for the Gulf countries to ensure continued healthy growth. This has been showcased in Saudi Arabia and the UAE, which are driving sustained GDP growth through significant government investment in non-oil sectors. In the UAE, the food and beverage sector is forecasted to grow by 36% between 2014 and 2019, while KSA’s automotive industry is slated to rise by 5.2% in 2015.

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09/23/2015
Country risk and economic studies

Quarterly update of the Coface country risk assessments

Large and small emerging countries are experiencing strong turbulence

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09/15/2015
Country risk and economic studies

Company insolvencies in Western Europe: a drop of 7% expected in 2015 but situation is contrasted

Company insolvencies in Western Europe have experienced two successive storms. The subprime crisis, which made insolvencies jump by an average of +11% in the twelve countries studied was, unsurprisingly, followed by further shock waves, with increases of +8% in 2012 and +5% in 2013. Today the skies have begun to clear. The average drop of 9% observed in 2014 will continue with -7% in 2015 . While insolvencies continue to increase in Italy and Norway, they are seeing the positive impact of the timid recovery in the eurozone in ten other countries (Germany, Belgium, Denmark, Finland, France, the Netherlands, Portugal, United Kingdom and Sweden).

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09/01/2015
Country risk and economic studies

Coface CEE Top 500 companies

•2014: A year of improvement throughout the region – turnover increased by +2.1%
•Higher turnover of the biggest companies reflected better economic prospects in 2014
•Poland was the biggest player, Hungary had the highest growth rate and the Czech Republic recovered
•Sectors: Automotive industry (+10.6%) top, oil & gas sector flop (-3.9%)

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07/22/2015
Country risk and economic studies

The CEE automotive sector is highly dependent on foreign investments - but there are positive dynamics in domestic demand

The CEE region has become an attractive destination for investments by global car manufacturers. In 2014, 3.6 million vehicles were produced in Eastern Europe, equating to 21% of total EU production (...)

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06/25/2015
Country risk and economic studies

Quarterly updated country risk assessments

Many countries are facing the full brunt of the decline in oil prices, especially emerging countries for which Coface has revised growth forecasts to 4% for 2015 (compared to 4.2% in March 2015). Meanwhile, developed economies (2% growth forecast for 2015 and 2016) are benefiting from the slight recovery taking shape in the eurozone (1.5% in 2015).

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06/15/2015
Product news

Launch of TradeLiner : Coface revamps its credit insurance offer for mid-market companies

Aimed at the evolving credit insurance needs of mid-market companies, Coface has modernised its flagship policy, renamed TradeLiner.

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06/08/2015
Country risk and economic studies

The end of milk quotas: New rules

April 1st 2015 marked the end of milk quotas in Europe, a regulatory tool imposed in 1984 in response to overproduction, leading to the so-called “butter mountain” and the “milk lake”. For the first time in 30 years, the market alone will determine the quantities of milk produced. Are French dairy farmers ready for this? Is the abolition of milk quotas going to make it possible for milk producers to supply the rapidly growing markets in Asia? Or to develop to meet the high level of demand for organic products?

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06/01/2015
Country risk and economic studies

Coface Insolvency Monitor for Central and Eastern Europe

Economic perspectives improved but corporate challenges remain
- CEE’s improved economic activity in 2014 resulted in the stabilisation of company insolvencies, with a minor drop of -0.5% in the regional average
- Multifaceted CEE region: Insolvencies rose in Slovenia and Hungary, while Serbia and Romania enjoyed a marked decrease
- Positive Outlook: Coface forecasts that insolvencies will fall by - 6% in 2015

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05/06/2015
Corporate news

70% of companies in the Asia-Pacific Region experienced overdue payments in 2014

Coface’s annual survey on Asia-Pacific region questioned 2,695 companies in 8 economies. 70% of the companies surveyed experienced overdue in 2014 - the highest level in 3 years. In addition, 37% of the respondents reported that overdue amounts increased in 2014, up by 2% compared with the previous year. Companies in China, India, Hong Kong and Thailand are particularly affected.

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05/05/2015
Corporate news

Coface begins 2015 with robust results: increased turnover and profitability in Q1

We begin 2015 with robust results: the Group’s growth and profitability are satisfactory and demonstrate the steadfastness with which the Group is implementing its strategy in a still mixed economic environment. The weaknesses seen in certain sectors across the world are affecting companies’ financial solidity and are an invitation to remain watchful. The Group continues to accompany its customers through sound risk management, securing both their own results and those of Coface.

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04/28/2015
Country risk and economic studies

Has the US automotive sector shifted safely into top gear?

The bail-out for the US automotive industry, at a cost of 80 billion dollars and large-scale layoffs, traumatised the United States. Its automobile manufacturers are now rebuilding their competitiveness and benefiting from the upturn in US economic growth (forecast at 2.9% in 2015). The industry has picked up and demand is being driven partly by easier access to credit, but at what price? In 2015, Coface’s model predicts an increase in sales of 3.8% a sustained level of growth, but well below the level recorded in recent years.
The automotive sector needs to continue to look towards the future and the changes required to meet the new challenges ahead.

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04/20/2015
Country risk and economic studies

Two sectorial assessments updated due to impact of lower oil prices

The recent drop in the price of oil has had knock-on effects for company credit risk around the world. Among the 14 sectors analysed, Coface has identified one big winner and one big loser, with the corresponding assessments revised upwards or downwards.

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04/14/2015
Country risk and economic studies

Five advanced economies will avoid the risk of "secular stagnation" within the next decade

More than three years after the official recovery, advanced economies are struggling to return to a path of sustained growth. Some are even forecasting stagnant growth, a situation sometimes seen as irreversible. But not all advanced economies are in the same position when it comes to this risk of long-term stagnation and some exceptions stand out in what is a fragile global landscape. Which of the OECD’s advanced economies have what it takes to accelerate their growth over the next decade?

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04/09/2015
Country risk and economic studies

Czech Republic under positive watch (A4)- economy benefits from good prospects in the car industry and household consumption

The Czech Republic is recovering from recessive effects as a result of debt crisis in the Eurozone. The economy regained momentum reaching solid growth of GDP by 2.0% in 2014 and even a higher growth of GDP by 2.5% is forecasted by Coface to be reached this year. The main driver of the Czech economy will be the export of passenger cars as well as the rising consumer consumption.

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03/30/2015
Country risk and economic studies

Quarterly updated country risk and business environment assessments

Coface upgrades country risk assessments of two European economies and places Brazil under negative watch
Business environment in Russia downgraded to C

Read More
03/27/2015
Corporate news

Holding a leading position in business information, Coface starts credit-insurance in Israel

Local companies to benefit from Coface’s expertise in prevention and credit risk protection in addition to collection and information services.

Read More
03/26/2015
Country risk and economic studies

Quarterly updated country risk and business environment assessments

Coface upgrades country risk assessments of two European economies and places Brazil under negative watch
Business environment in Russia downgraded to C

Read More
03/24/2015
Country risk and economic studies

Corporate overdue payments in China at high levels: 80% of corporates affected in 2014

Slower growth and increase in non-performing loans expected in 2015

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03/10/2015
Country risk and economic studies

Impact of lower international oil prices on Latin America

Latin America is a major producer of commodities and the recent drop in oil prices is impacting the region’s countries in different ways. Which countries could benefit from lower international quotations - and why are others negatively impacted?

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02/23/2015
Corporate news

Coface posts 2014 results in line with objectives and proposes distribution of €0,48 pers share

We are pleased to publish full-year results in line with our expectations. Our innovative product offering, appropriate distribution channels, extensive international presence and prudent risk management have all contributed to the significant improvement in our results.

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02/23/2015
Country risk and economic studies

Poland’s construction sector - are turbulent times over?

Insolvency statistics for the Polish construction sector show that a milestone has been reached. It has transformed from a negative performer, feeding bankruptcy levels in 2010-2012, to the sector with one of the highest improvements in terms of insolvencies. Do these statistics indicate a long-term improvement for the entire sector? So far the housing industry, which is a small part of the construction sector, shows signs of improvement and new EU funds are helping to mitigate risks.

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02/10/2015
Country risk and economic studies

Middle East and North Africa region: What progress after the “Arab Spring”?

After a period of political and social turmoil, the economic activity is gaining strength in the Middle East and North Africa region. The growth is expected to stand at 2.6 percent in 2014 and to accelerate to 3.2 percent in 2015 on the back of global economic recovery and preliminary signs of political consensus in some countries of the region. However the growth performance will continue to stand below the 2000-2010 average of 5.4 percent.

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01/29/2015
Country risk and economic studies

2015 COUNTRY RISK CONFERENCE: IN 2015, THE GLOBAL RECOVERY WILL BE LABORIOUS AND SUBJECT TO MULTIPLE RISKS

The global economy is on the path of gradual recovery. Less vigorous than before the 2008 crisis, global growth continues to follow a moderately accelerating trend: +3.1% in 2015, after +2.8% in 2014 and +2.7 in 2013. Slight improvements are expected both in advanced countries (from +1.7% in 2014 to +2.1% in 2015) and in emerging countries (from +4.2% to +4.3%).

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01/23/2015
Country risk and economic studies

Latin America - Growth picking up for Pacific countries

Three decades ago, Latin America was associated with negative terms such as ‘dictatorship’, ‘debt crises’ and ‘high inflation’. Over the years, the region has begun to be associated with economic growth, the new middle class, poverty reduction and controlled inflation.In this edition of Panorama, we have decided to focus on two countries of the Pacific Alliance: Mexico and Peru. Mexico appears to have a medium term positive outlook. Peru’s case is also interesting and the country’s medium-term prospects are very favourable. Peru was identified as one of the 10 ‘new emerging markets’ by Coface earlier this year.

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12/17/2014
Country risk and economic studies

After the economic crisis, what does the future hold for pharmaceutical companies in Europe?

The pharmaceutical sector’s dependence on the economic situation of European countries proved to be crippling for the industry during the 2008-09 crisis, and once again during the sovereign debt crisis of 2011-12. Particularly weakened by reduced health expenditure in Europe, pharmaceutical companies are now looking to revive, expand into new markets and invest in niche markets to break the deadlock.

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12/15/2014
Corporate news, Product news

Coface obtains credit insurance license in Morocco and strengthens its leading position in Africa

Present in Morocco since 2007, Coface has now obtained its license for insurance and reinsurance activities from the regulatory authorities.

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12/09/2014
Corporate news

Polish insolvencies stop rising - but for how long?

The insolvency statistics for Polish companies reflect an improvement during the first half of 2014. In total 402 companies declared bankruptcy, representing a decrease of 11.5% compared to the same period in 2013.

Read More
12/04/2014
Country risk and economic studies

Coface quarterly sector risks assessments : 14 sectors in three major regions of the world

North American chemicals, transport, textiles and clothing upgraded from "medium risk" to "low risk"
In North America, sector risk has improved due to the positive economic outlook and the drop in oil prices

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11/18/2014
Country risk and economic studies

Global trade: a return to pre-crisis levels is unlikely, but the potential for growth exists

Following thirty years of unprecedented expansion, global trade is experiencing a period of radical change.

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11/05/2014
Country risk and economic studies

Carrot-and-stick : Challenges ahead for the Chinese economy

Since the beginning of the year, the Chinese government has continued its effort to carry out various items on the reform agenda, particularly on fine-tuning the structure of the Chinese economy. As domestic demand remains subdued, property market continues to be sluggish and over-capacity in some sectors remains unsolved, it would be unlikely China will achieve the 7.5% growth target. Coface expects the GDP growth of China could reach 7.4% in 2014, given more policy support in sight.

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10/30/2014
Country risk and economic studies

Updated country risk assessments

A slow recovery but a recovery nonetheless in the Eurozone, political and financial instability in large emerging countries.

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10/30/2014
Corporate news

Results at 30 September 2014: Coface continues to progress on a path of growth and profitability

Coface’s performance is in line with objectives. At the end of these first nine months, the Group has posted satisfactory growth and solid profitability.

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10/27/2014
Country risk and economic studies

UAE economy grows stronger thanks to effective diversification policy

- 5% growth projected for 2014 on the back of successful diversification policy
- Favourable business environment, supported by new company law to improve transparency
- Debt profile improves. Financing needs of government-related entities (GRE) continues to be a question

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10/16/2014
Country risk and economic studies

Coface quarterly sector risks survey: 14 sectors in three major regions of the world

Nil growth recorded in the eurozone in Q2 2014 confirms the scenario of an exceptionally slow recovery. However, according to Coface's forecasts, in 2014 growth in GDP will be...

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10/14/2014
Country risk and economic studies

European airlines are among the least profitable in the world: what is the adaptation scenario?

At a time when it appears vital to capture the growth potential in Asia, European airlines are stumbling due to aggressive competition from low cost operators and airlines from the Gulf. Currently, they are among the least profitable in the world. Faced with these new constraints, what changes are conceivable?

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10/07/2014
Product news

Coface launches an innovative offering for SMEs: EasyLiner, a simple on-line solution to protect against unpaid invoices

Coface has developed a tailored SME offering with two aims in mind: protection and ac-cessibility. EasyLiner provides quality cover adapted to the needs of SMEs, as well as an easy subscription process, leaving businessmen free to concentrate on their core business.

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10/06/2014
Country risk and economic studies

Coface CEE Top 500: Top companies with increasing turnover but sharply declining profits

Poland again ranked first, Hungary and Romania catching up while Ukraine dropping out of the Top 3.

Read More
09/18/2014
Country risk and economic studies

Company insolvencies in Brazil: what to expect in the near future?

Restructuring and bankruptcy remain increasingly used procedures.
Activity in Brazil remains lacklustre, inflation above targets and interest rates are amongst the highest in the world. Various indexes show that confidence in Brazil remains down, while the low investment ratio continues to deteriorate.

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09/11/2014
Product news

Download our new smartphone app CofaMove now!

Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of Cofanet, its online platform for managing credit insurance contracts. The application will be available for download at the Apple App Store and Google Play Store.

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09/08/2014
Country risk and economic studies

Panorama Romania

In its most recent Panorama economic publication, global credit insurer Coface focuses on Romania. The country’s economic performance made it one of the leaders in Europe’s recovery, with growth of 3.5% exceeding expectations in 2013. Significant contributions came from the agricultural and automotive sectors, in particular from auto production for export. Although growth will not keep pace in 2014, the outlook remains positive.

Read More
08/08/2014
Country risk and economic studies

The Turkish economy - what to expect in 2014?

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets. Such a situation would negatively impact the corporate sector’s external debt stock, already at a record high.

Read More
08/08/2014
Country risk and economic studies

The Turkish economy - what to expect in 2014?

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets. Such a situation would negatively impact the corporate sector’s external debt stock, already at a record high.

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07/25/2014
Corporate news

Serbia becomes 98th market for Coface’s credit insurance offer

Coface, a world-leading credit insurer, is enriching its offer in Serbia through a local partnership with Axa. From now on, in addition to debt collection and business information services, Serbian companies can benefit from Coface’s longstanding expertise in credit insurance and its international footprint.

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07/24/2014
Country risk and economic studies

Brazil: Downgraded to A4

Coface expects a considerable slowdown of GDP in 2014 (at +1.3% in 2014, down from +2.5% in 2013), due to household consumption growing at a slower pace, investments losing momentum and a weak trade balance. Coface considers 2015 to be a turning point, boosting GDP in the medium term.

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07/10/2014
Country risk and economic studies

Stabilization of corporate overdue payments in Asia Pacific but new worries over slowing growth in China

According to the Coface survey of credit risk management in Asia Pacific, corporate payment experience in the region stabilized overall in 2013, with the exception of companies in Australia and China which saw a greater number of non-payments. Slowing growth in China remains a concern for corporates in other economies in the region in 2014.

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06/23/2014
Country risk and economic studies

Austria in A1 back again

The first quarter of 2014 confirmed the acceleration in global growth.

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06/16/2014
Country risk and economic studies

Coface forecasts a 13% drop in SME insolvencies in Spain and stabilisation in France in 2014

With comparable profiles in terms of entrepreneurial activity, Spain and France are following a worrying trend in terms of company insolvencies. However, SMEs1 in the two countries have evolved differently since the 2008-2009 crisis, and insolvency forecasts for 2014 further underline this divergence. SMEs are over-represented in insolvencies in France and still more so in Spain

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05/28/2014
Corporate news

Coface quarterly credit risks survey: 14 sectors in three major regions of the world

While the recession appears to be coming to an end in Western Europe, it has not yet produced a significant improvement in sector risk. In the first quarter of 2014, the level of credit risk remains particularly high in the metal, automotive and construction sectors.

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05/05/2014
Corporate news

Łukasz Kiliński appointed new Commercial Director for Central Europe

The international credit insurer Coface strengthens its regional management team: Łukasz Kiliński (32) started as Regional Commercial Director for Central Europe on 1st April, 2014and will be responsible for the regional business activities reporting directly to Katarzyna Kompowska, CEO of the region.

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04/24/2014
Corporate news

12th Coface Country Risk Conference

Top experts discuss relevance, strategies and control of decision-making processes.

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04/22/2014
Country risk and economic studies

Coface quarterly credit risks survey: 14 sectors in three major regions of the world

Sector risk stabilising in North America and Europe but becoming a source of concern in emerging Asia

Read More
04/17/2014
Country risk and economic studies

Coface Insolvency Monitor CEE: Increased insolvencies due to weak economic framework

Companies in the CEE region faced a challenging year in 2013: The already weak economic situation deteriorated and the household consumption decreased due to fiscal measures to tackle rising budget deficits.

Read More
03/31/2014
Country risk and economic studies

China sees highest level of corporate overdue payments since 2010

Coface’s survey of corporate credit risk management in China, carried out in the fourth quarter of 2013, revealed that 8 out of 10 companies in China experienced overdue payments in 2013. The chemical, industrial machinery and household electric & electronic appliances sectors are at higher risk. Since credit facilities will remain tight in 2014, a deterioration in corporate payments could lead to a significant ripple effect in China’s shadow banking market.

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03/28/2014
Country risk and economic studies

Coface identifies 10 emerging countries hot on the heels of the BRICS

After 10 years of frenetic growth, the BRICS are slowing down sharply: for 2014, Coface forecasts growth of on average 3.2 points lower than the average growth these countries registered over the previous decade. At the same time, other emerging countries are accelerating their development.

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03/13/2014
Corporate news

2013 Annual results

Good commercial dynamics and improvement in the loss ratio

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02/19/2014
Corporate news

Coface, the leading credit insurer in Latin America, launches a direct offering in Colombia

The Group now operates directly in 9 of the region’s countries. Present in Colombia since 2007 through a partnership with Mundial Seguros, Coface has just obtained a license from the local regulatory bodies enabling it to sell its credit insurance solutions directly.

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02/11/2014
Country risk and economic studies

China in 2014: stable growth with risks of financing and overcapacities. Risks remain in several sectors

2014 is a year of divergence for the Chinese economy, representing the diverging trends of macro and micro environments. Focus of 2014: rising cost of funds.

Read More
01/28/2014
Country risk and economic studies

Coface Quarterly ‘Panorama Sectors’ - Textiles

Positive changes in North America and Asia
Risks stabilise in Europe as the textile industry invests in innovation

Read More
01/21/2014
Country risk and economic studies, Press release

Country Risk Conference 2014:<br>In 2014, favourable risk trend in advanced economies but persistent tensions in large emerging countries.

After a post-crisis readjustment between advanced and emerging countries, in 2014 global country risks are set to change in line with a more classic model.

Read More
12/16/2013
Country risk and economic studies

Company insolvencies in France: No improvement likely for 2014

Following a peak in intermediate sized company insolvencies, SMEs are again suffering most.
The number of French companies experiencing difficulties remains at a high level: Over the last twelve months Coface identified 62,431 company insolvencies, an increase of +4.3%.

Read More
12/04/2013
Country risk and economic studies

The construction sector, overrepresented among French company insolvencies, with risks that will continue to increase in 2014

The construction sector is currently in something of a paradoxical situation: More than one in three company insolvencies in France still come from this sector, despite the property market remaining relatively resilient during the 2008-2009 crisis.

Read More
11/25/2013
Corporate news

Coface launches its new corporate website, a tool to help companies prevent commercial risks and protect their transactions

Following the rollout of its new visual identity, Coface has redesigned its Group website. This key achievement expresses Group’s specific added value as credit-insurer serving companies and further conveys its commitment to enabling secure exchanges worldwide, as expressed in its tagline "Coface for safer trade".

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10/24/2013
Country risk and economic studies

Emerging Asia : Coface warns of growing risks linked to household debt

The growth potential in Asia remains high, driven by the middle class. Malaysia, South Korea, Singapore and Thailand: household debt similar to that of the United States at the time of the subprime crisis.

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10/17/2013
Country risk and economic studies

Coface is optimistic about business risks in the United States and concerned about those of emerging countries such as Brazil and Thailand

Revised Country Risk assessments. Overall, advanced economies are doing better. The concerns come from the emerging countries, which are facing a structural decline in growth.

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10/08/2013
Country risk and economic studies

Coface Quarterly "Panorama Sectors"

Coface downgrades its credit risk assessment in three business sectors: chemicals, pharmaceuticals and automotive.

Read More
09/24/2013
Country risk and economic studies

Coface CEE Top 500: Top companies with increasing turnover but sharply declining profits

Poland again ranked first, Hungary and Romania catching up while Ukraine dropping out of the Top 3.

Read More
07/18/2013
Country risk and economic studies

Brazil’s economic woes: any chance of a kick start?

The archetypal emerging country, Brazil passed the test of the great crisis of 2009 with flying colours. Four years on, social protests have begun to highlight the failure of its growth model.

Read More
07/03/2013
Country risk and economic studies

A glimmer of hope for some advanced economies: Japan, Iceland, and Ireland

Coface has noted an improvement in a number of advanced economies: Japan, Iceland, and Ireland. On the other hand, the contraction in activity, financial problems and above all growing political and social pressures are increasing risk in South Africa and Tunisia

Read More
07/01/2013
Corporate news

Coface is expanding further in Central Europe to offer credit insurance in Croatia

As of 1 July 2013, the first day of Croatia’s membership of the European Union, Coface simultaneously launches its credit insurance services in this country, to meet growing demand from companies.

Read More
06/26/2013
Country risk and economic studies

Italy: Company payment practices worsen, reflecting the severity of the recession

The preponderance of fragile small companies and the sheer scale of late payment within the public sector.

Read More
05/30/2013
Country risk and economic studies

Victims of sluggish growth, businesses in Central Europe will not emerge from the crisis in 2013

Compared to Western Europe, defaults in Eastern Europe are accelerating at a very high rate.

Read More
04/26/2013
Country risk and economic studies

The construction sector

A persistent credit risk in most countries.

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03/25/2013
Country risk and economic studies

Risks are back on the radar in emerging countries

"Political instability, increasing protectionism, credit bubbles" : emerging country risks have not disappeared altogether, but have changed form.

Read More
03/04/2013
Corporate news

In 2012 Coface improved its results despite the crisis

In an economic downturn, particularly in the euro area, Coface continues to grow its turnover.

Read More
02/28/2013
Product news

Worldwide launch of TopLiner

A supplemental cover beyond standard credit insurance.

Read More
02/12/2013
Corporate news

Coface has finalised the grouping of its 21 European credit insurance branches into one company

Coface has simplified and streamlined the structure of its European credit insurance activities.

Read More
01/25/2013
Country risk and economic studies

Country Risk Conference Paris 2013: The crisis in Europe

Based on its day-to-day contact with companies worldwide, Coface has issued a cautious scenario for the global economy in 2013.

Read More
01/21/2013
Corporate news

A new identity and a new tagline for Coface

A new brand positioning, symbol of a strong commitment to clients.

Read More
11/07/2012
Product news

Coface Global Solutions: A new service for multinational companies in 66 countries

A new service for multinational companies in 66 countries.

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10/11/2012
Corporate news

Coface continues global expansion, strengthening its presence in Africa

Coface guarantees are now available in 97 countries.

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09/07/2012
Corporate news

Coface’s results for the first half of 2012

Sustained growth in turnover and in net profit

Read More
07/18/2012
Corporate news

Cyrille Charbonnel is appointed Chief Operating Officer of the Coface Group

In this role, he will manage the operational functions of the Group together with Jean-Marc Pillu, Chief Executive Officer.

Read More
07/12/2012
Country risk and economic studies

Country risk assessments review: The crisis worsens in Southern Europe and the Indian model begins to show signs of struggle

The recession in Southern Europe is becoming increasingly severe in Spain and Italy, and has spread to Cyprus. The first signs of struggle in the Indian economic growth model and a deterioration in the business climate in Argentina are beginning to emerge. However, Indonesia – bolstered by the vitality of its domestic market – is demonstrating a significant ability to withstand external shocks.

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06/12/2012
Corporate news

Richard Burton is appointed Manager of the Asia Pacific Platform

He held the position of Deputy Manager up until he took over from Jean-Claude Speitel who retired at the end of May.

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06/05/2012
Country risk and economic studies

Coface study: Companies’ payment behaviour in China

Stabilized overall financial situation for Chinese companies, despite difficulties in accessing credit.

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03/08/2012
Corporate news

Coface accelerates its profitable growth in 2011

Die finanzielle Performance der Coface Gruppe im Geschäftsjahr 2011 zeigt, wie richtig und wichtig die Anfang letzten Jahres begonnene strategische Neuausrichtung auf Kreditversicherungen tatsächlich ist. Trotz des zunehmend ungünstigen wirtschaftlichen Hintergrunds konnte das Versprechen einer profitablen und eigenständigen Entwicklung, das mit der Neuausrichtung abgegeben wurde, eingehalten werden und trägt auch bereits Früchte.

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01/19/2012
Country risk and economic studies

Coface Country Risk

Companies’ solidity already impacted by the systemic crisis in Europe and political risks in emerging countries

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