Moody’s upgrades Atradius

Moody's Investors Service said it upgraded the insurance financial strength rating of Atradius NV's main operating subsidiaries, including Atradius Credito y Caucion SA, Atradius Trade Credit Insurance Inc. and Atradius Reinsurance DAC to A2 from A3.

In addition, the agency upgraded the backed subordinated notes issued by Atradius Finance BV to Baa3 (hyb) from Ba1 (hyb).

The outlook is stable. This concludes the review initiated on Dec. 13.

Moody’s said the action reflects steady strengthening of Atradius' financial profile over the past five years, including strong and consistent profitability, strengthening capital adequacy and improvements in its risk management and reserving practices.

In addition, Atradius has upheld its strong market position as the second largest global trade credit insurer, and continues to invest in defending and strengthening its market position, the agency explained.

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