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Cover on Ecuador

Phil Quinn NZEC Posts: 4 15/04/2025 03:32	Phil Quinn NZEC Posts: 4 Hello members NZ Export Credit has been approached to provide short term cover on Empresa Publica De Hidrocarburos Del Ecuador. (EP Petro Ecuador). Do any of the members have experience with this counterparty? We seek your advice. Thanks Phil Quinn
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Andrea Bulasch EULER HERMES Posts: 70 16/04/2025 10:36	Andrea Bulasch EULER HERMES Posts: 70 Dear colleagues, regarding short-term cover on Empresa Publica De Hidrocarburos Del Ecuador we have one whole-turnover cover policy. We have no negative payment experience, so far. Kind regards Euler Hermes Aktiengesellschaft Federal Export Credit Guarantee Division
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Phil Quinn NZEC Posts: 4 17/04/2025 01:49	Phil Quinn NZEC Posts: 4 Thanks so much for the response Andrea and Euler Hermes. Can I just ask how long your cover has been in place for and when it expires? The reason I ask is that S&P reports indicate significant problems for Ecuador to finance and roll over its external debt in 2026. Best regards Phil
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Andrea Bulasch EULER HERMES Posts: 70 23/04/2025 10:16	Andrea Bulasch EULER HERMES Posts: 70 Dear Phil, The limit was granted some years ago (2020). However, there was no recent turnover covered, so the limit is currently not in use. Kind regards Euler Hermes Aktiengesellschaft Federal Export Credit Guarantee Division
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Phil Quinn NZEC Posts: 4 23/04/2025 09:07	Phil Quinn NZEC Posts: 4 Andrea Bulasch wrote: Dear Phil, The limit was granted some years ago (2020). However, there was no recent turnover covered, so the limit is currently not in use. Kind regards Euler Hermes Aktiengesellschaft Federal Export Credit Guarantee Division
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Phil Quinn NZEC Posts: 4 23/04/2025 09:11	Phil Quinn NZEC Posts: 4 Thanks Andrea and Euler Hermes. No further questions. Kind regards Phil Quinn
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