ECONOMY: Coface Downgrades Eurozone Countries and US
Recent Gauteng Business News
Understanding the Credit Risk by Coface
This credit risk rating is the general businesses credit risk in that country experienced by Coface. The downgrading of a number of countries indicates an increased credit risk in doing business with companies in those countries.
Five Eurozone countries were downgraded from A2 positive watch to A2. These were Germany, Austria, Belgium, France and Netherlands.
Italy was downgraded from A3 to A3 negative watch, Portugal A4 to A4 negative watch, and Greece from B to C. The US was downgraded from A2 positive watch to A2.
Coface Sees South Africa as Vulnerable
While South Africa¬ís current rating by Coface has remained unchanged throughout the recession and recovery years, South Africa remains vulnerable to the global trade conditions.
Business News Sector Tags: Economy|