Excellent ratings Credendo – Export Credit Agency affirmed by S&P Global
S&P Global affirmed Credendo – Export Credit Agency’s excellent ratings on 22 August 2023. This means the ‘AA’ long-term issuer credit rating and the ‘A-1+’ short-term issuer credit rating are maintained and have a stable outlook.
The credit-rating agency highlights the critical role Credendo – Export Credit Agency plays in Belgium’s trade policy and the integral link with the Belgian government, which provides a legally binding guarantee for the credit insurer’s obligations.
In 2023, S&P Global expects improving external factors will enhance the profitability of Credendo’s activities in 2023–2025.
For the first time, S&P Global performed the annual review of all Credendo subsidiaries on the same day. These subsidiaries provide a wide range of dedicated and specialised products and solutions that are embedded in the group's strategy. S&P Global has also affirmed their ratings: Credendo – Short-Term Non-EU Risks (‘A’), Credendo – Short-Term EU Risks (‘A’) and Credendo – Guarantees & Speciality Risks (‘A-’).
The full report is available here.