S&P Global Ratings affirms Credendo – Export Credit Agency’s ‘AA’ rating

On 18 August 2022, a new report from Standard & Poor’s confirmed Credendo – Export Credit Agency’s ratings. The ‘AA’ long-term issuer credit rating and the ‘A-1+’ short-term issuer credit rating are maintained. The outlook remains stable.

Standard & Poor’s underlines:

• the critical role of Credendo – Export Credit Agency in supporting Belgium's trade policy;
• the integral link with the Belgian government, which provides a legally binding guarantee for Credendo – Export Credit Agency's obligations.

Furthermore, the company has an excellent level of capital adequacy: Credendo’s consolidated balance sheet totalled €3.56 billion, including €2.94 billion of equity, on 31 December 2021.

In the report, Standard & Poor’s reminds the strong ratings assigned to three entities of Credendo: 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.