Creditas' Auto FIDC Ratings Upgraded by S&P Global Ratings
Creditas is pleased to announce that S&P Global Ratings, one of the world's leading credit rating agencies, has upgraded the mezzanine tranche ratings of Creditas Auto FIDC IV, V, VI, and VII to ‘brA (sf)’, while reaffirming the ‘brAAA (sf)’ ratings for the senior tranches.
As a primary funding strategy for its credit portfolio, Creditas focuses on recurring issuances of Securitizations and REITs in the capital markets, partnering with fixed-income investors (institutional and retail) who seek a combination of low risk and long duration investments. These funds have a senior and mezzanine tranche composition that has historically delivered consistently strong results for investors.
On March 25, 2025, S&P Global Ratings released a Press Release discussing the credit quality assessment of four FIDCs dedicated to Creditas' Auto Equity and Auto Finance products. The agency's analysis considered various stress scenarios, including delinquency multipliers, increases in the basic interest rate, and the occurrence of prepayments and concluded that the “credit protection, available through the subordinated tranche, overcollateralization, and excess spread, is sufficient to cover the losses we estimate in a ‘brAAA (sf)’ rating scenario for the senior tranches and a ‘brA (sf)’ for the mezzanine tranches.” The rating report with more details and the agency's opinion can be found here.
This assessment reflects the recognition of Creditas' soundness and effective management, which since 2017 has sought to offer robust and reliable financial products to capital market investors. The Creditas Auto FIDCs IV, V, VI, and VII, which total approximately R$1.2 billion in tranches issued throughout 2021, have present accumulated profitability of 91%, equivalent to 193% of the SELIC rate in the period.These funds began a sequential amortization regime throughout 2024, due to the activation of a financial trigger when senior tranches fell below 15% of their initial issued value, a process that reinforces the security and predictability of the structures.
About Creditas
Creditas is a financial services platform that offers loans, insurance, and investments using home, car, and salary as collateral. With 12 years of operation, it is the largest online credit platform in Latin America and has received investments from major international funds, such as Softbank, VEF, Kaszek, and Redpoint, among others. Through its proprietary technology, it offers products such as home equity and auto loans, private payroll-deducted loans, corporate benefits, and insurance. Creditas has surpassed the mark of 13 million credit requests, has a current credit portfolio of R$6.0 billion, and more than 60 issuances in the capital markets (FIDCs, CRIs, and FIIs).
For more information, visit www.creditas.com and ir.creditas.com/en
For further information, please contact:
Creditas:
Sergio Furio/ Erica Stols
CEO / VP of Treasury & DCM
E-mail: dcm@creditas.com