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S&P revises outlook on 4finance Holding

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S&P revises outlook on 4finance Holding

S&P Global Ratings on Nov. 30 affirmed 4finance Holding SA's B+ long-term issuer credit rating and revised its outlook to stable from negative.

The rating actions stemmed from the Luxembourg-based company's efforts to improve its strategy including the acquisition of TBI Bank EAD in Bulgaria. While recognizing that TBI Bank complements 4finance's product suite, the agency noted that managing its integration would be more demanding and costly than previous deals because TBI is a regulated entity, although operation risks currently appear contained.

The change in the outlook of 4finance's ratings reflects S&P's view that the company is managing the integration of TBI Bank and the increased costs that come with it. Credit metrics are also expected to stay broadly stable, and a downgrade is unlikely in the next 12 months, according to the agency.

At the same time, S&P affirmed 4finance Holding wholly owned unit 4finance S.A.'s B+ issuer rating.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.