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Moody's revises outlook on Cabot Financial to positive

Moody's on Dec. 14 changed the outlook on Cabot Financial Ltd., Cabot Financial (Luxembourg) II SA and Cabot Financial (Luxembourg) SA to positive from rating under review.

At the same time, the rating agency confirmed the B2 long-term corporate family rating of Cabot Financial Ltd. as well as the senior secured bond ratings of Cabot Financial (Luxembourg) II SA and Cabot Financial (Luxembourg) SA at B2.

The rating agency cited Cabot Financial Ltd.'s diversified business model as reason for the outlook change on the corporate family rating, offsetting uncertainties stemming from its withdrawal of plans for an IPO.

Cabot Financial is owned by U.S.-based specialty lender Encore Capital Group Inc.