Atradius stops covering new exports to Greece

Trade credit insurer Atradius has stopped covering exports to new importers in Greece.

Atradius is judging the default risk of all Greek companies, and is also pulling or reducing cover on exports to Greek firms heavily reliant on imports or doing business with the public sector.

In a statement, Atradius said: “While we will not cover supplies to new buyers in Greece, we continue to cover the trade credit risk with regard to selected existing buyers of our customers. We remain on cover for risks already taken on before withdrawal or reduction of the credit limit in accordance with the policy conditions.

“For domestic trade within Greece we are keeping significant cover in place based on our prudent underwriting over the last couple of months.”