Moody’s upgrades Hoist Kredit AB to Ba1
On June 7, Hoist Kredit AB’s (publ) (“Hoist” or the “Company”) issuer rating was upgraded to Ba1 by Moody’s Investors Service (“Moody’s”). The outlook on the issuer rating is stable. At the same time Moody’s also upgraded the long-term senior unsecured debt rating to the Company’s EMTN programme to (P)Ba1 and the senior notes recently issued thereunder to Ba1. The upgrade follows Hoist’s successful inaugural issuance of EUR 250 million under the newly established EMTN programme.
-We are very pleased that our strategy to continue to diversify our funding base has led to a positive impact on our credit rating. Hoist continuously reviews its capital base in order to ensure that regulatory and internal capital requirements are met and moreover to be able to continue the strong growth of the business. Issues of equity instruments may also take place in the near future, if the market conditions are favourable, says Magnus Linnersand, Group Head of Treasury, Hoist Finance.
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
Telephone: +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 08 Juni 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.