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DBRS confirms ECN Capital's issuer rating


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DBRS confirms ECN Capital's issuer rating

DBRS has confirmed the BBB (low) issuer rating of ECN Capital Corp.

The trend is stable.

The ratings confirmation follows the company's announcement that it has agreed to acquire Boca Raton, Fla.-based Service Finance Holdings LLC. The transaction is expected to close in the third quarter.

DBRS believes that the acquisition will provide ECN Capital access to a growing market that has no clear market leader. The acquisition will also help diversify ECN Capital's revenue and support earnings growth, the rating agency wrote.

The confirmation also considered the modest impact to leverage expected from the acquisition, DBRS said.