Coface upgrades Serbia’s credit risk assessment

Coface insurance company has upgraded Serbia’s credit risk assessment rating from C (high risk) to B (stable), for the first time in the last ten years.

“Upgrading the company’s business climate rating for the first time in last ten years is exceptionally good news for our country and a strong signal for foreign investments and development of our economy”, said Djordje Zivanovic, Coface’s country manager for Serbia and Montenegro.

Zivanovic adds that Coface’s expertise is based on the company’s global presence in over 100 countries and 70 years of risk assessment experience. Currently, over 40,000 companies are using Coface’s services and the company has insured over 450 bln EUR worth of claims.

After the 2017 Country Risk Conference, Coface announced that, despite the recent economic recovery, uncertainty will continue to dominate the global economic climate. Also, political risks will continue to be a major concern in 2017.

Among the advanced economies, it is Europe which is facing the greatest political uncertainties, as it awaits the outcome of a number of decisive electoral battles, as well as details on the exact terms of Brexit. Over the last year, Coface’s European political risk indicator has increased by an average of 13 points for Germany, France, Italy, Spain and the United Kingdom. If there is a further major political upset, on a similar scale to that of the British referendum, European growth could slow by an average of 0.5 points.

(eKapija, 25.01.2017)

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