Spain – Brazil
The Credit and Surety Table 500 shows improvements in the Netherlands and deteriorations in Türkiye, Mexico and, especially, Brazil.
Table 500, which includes some 500 detailed forecasts of performance by sector and market prepared by analysts at Crédito y Caución, focuses on changes in Brazil for October. The Latin American country registered deteriorations in four sectors: Consumer Durables, Electronics/ITC, Metallurgy, and Steel (all moving from Favorable to Unfavorable). All of these sectors have been negatively affected by the downturn in the Brazilian economy, battered by high inflation, the depreciation of the real, and corruption scandals. Both default rates and business insolvencies have increased in these four sectors and are expected to continue rising in the coming months.
Positive changes in the forecasts are only noticeable in the Netherlands, in the Metallurgy and Steel sectors (both from Unfavorable to Favorable). Forecasts in the steel sector also show changes in Turkey (from Good to Favorable) and Mexico (from Favorable to Unfavorable).
The forecasts contained in Table 500, which includes some 500 detailed performance outlooks by sector and market, have been prepared by risk analysts who directly assess the risk associated with companies in each market when a Spanish company insured by the Company seeks to close a business transaction in foreign markets. Crédito y Caución is the only Spanish credit insurance provider integrated into a global trade finance operator, Atradius, which has a direct presence in 50 markets and coverage in any country worldwide through experience centers that analyze and underwrite risk with the team closest to the buyer.
Source: Credit and Surety
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