Coface announces some 20 upgrades in country ratings. The credit crisis, which will have lasted two years as announced at the conference held in January 2008, has been of an unprecedented magnitude for the past 60 years.>

Coface’s new growth forecasts take into account a growth contraction of 6.6 points between 2007 and 2009.

The financial strength of companies continues to decline in most countries.

19/01/2009 - The credit crisis no longer spares any zone and even reaches the BRICs: Coface announces at its Country Risk Conference that China and Russia have been placed on negative watch

Coface downgrades the United Kingdom, Ireland and Iceland, and places Italy and France on negative watch

In Europe, the crisis is dragging Spain down, which is pulling Portugal along in its wake. In Denmark, more vulnerable than the other Scandinavian countries, companies are suffering from the economic downturn and from tighter margins.