S&P Global Ratings on Sept. 10 assigned a "brA" national scale issuer credit rating to Brazil-based Omni Banco SA and Omni SA - Crédito Financiamento e Investimento.
The ratings of the entities reflect their strong performance in the segment of used vehicle financing originations for class C and D customers, which has anchored their robust profitability over the years.
The rating agency expects the Omni group to maintain adequate capitalization levels and liquidity in line with its cash usage expectations.
However, the ratings also reflect the group's small size, concentration in a segment considered to be volatile, high delinquency intrinsic to the business and significant reliance on its distributors for funding.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
