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Fitch rates Finnish lender Ferratum

Fitch Ratings on March 13 assigned a long-term issuer default rating of BB- to Finland-based Ferratum Oyj, with a stable outlook.

The agency said the rating reflects the mobile financial services provider's monoline business model and evolving franchise as a predominantly pan-European online-focused specialty lender in a niche market segment. It also reflects Ferratum's adequate through-the-cycle profitability and capitalization, as well as its increased appetite for credit risk in its core activities.

Fitch noted that the rating takes into account Ferratum's adequate risk provisioning approach and proactive management stance in terms of its nonperforming loans.