STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
On May 2nd Hoist Kredit AB (publ) (Hoist Finance) was assigned a Ba2 long-term issuer rating with a positive outlook from Moody’s Investors Service (Moody’s). The rating highlights Hoist Finance solid market position in the European debt purchasing business and the strong track record in the industry, supported by a strong liquidity position and sound capitalisation. At the same time, Moody’s assigned a Non-Prime short-term issuer rating and a Counterparty Risk Assessment of Baa3(cr)/Prime-3(cr) to Hoist Finance.
- We are pleased that Moody's acknowledges Hoist Finance as a company with extensive experience and a strong position in the European debt purchasing market. The credit rating confirms our continuous efforts of establishing Hoist Finance as the leading debt purchasing company in Europe, and will give Hoist Finance access to a wider and deeper investor base. Having a well diversified and strong funding base is important for Hoist Finance. The credit rating provides additional and good opportunities to further explore our long term commitment to capital markets, says Jörgen Olsson, CEO, Hoist Finance.
The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lagen om värdepappersmarknaden) and/or the Swedish Financial Instruments Trading Act (Sw. lagen om handel med finansiella instrument). This information was released for publication at 08.45 (CET) on 2 May 2016.
About Hoist Finance
Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. Hoist Finance operates through eleven in-house collection centers across Europe, complemented by local external debt servicing partners. The total carrying value of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31 December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated “Credit Market Company” under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers internet-based savings deposit services through HoistSpar, with around 85,000 accounts.
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