Moody's assigns (P)Ba2 rating to Hoist Kredit’s EMTN programme. The rating together with Hoist's Ba2 issuer rating are also under review for upgrade
On May 16, Moody Investor’s Service (Moody’s) assigned (P)Ba2 long-term senior unsecured rating to the forthcoming EUR 750 million EMTN programme (the “Programme”) of Hoist Kredit AB (publ) (“Hoist”).
Moody's has also placed Hoist's long-term issuer rating Ba2 and the Programme rating (P)Ba2 under review for upgrade. An upgrade is expected following the settlement of a first issue under the Programme.
The review for upgrade of Hoist's long-term issuer and long-term senior, unsecured Programme ratings to Ba1 and (P)Ba1 respectively, is supported by Moody's expectation that the change in Hoist's capital structure following a first issue increases the protection of senior debt.
For further information, please contact:
Magnus Linnersand, Group Head of Treasury
Telefon: +46 (0)8 555 177 72
Michel Jonson, Group Head of Investor Relations
Telefon: +46 (0)8 555 177 19
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 08.30 (CET) on 17 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.