Consumer finance company International Personal Finance (IPF) has welcomed the upgrade by Fitch Ratings of its long-term credit rating to ‘BB’ Outlook Stable.
The key drivers of the rating upgrade, from BB-, are IPF’s continued strong performance and the early and successful refinancing of the Group’s new 5.5-year €341 Eurobond earlier this month which was materially oversubscribed.
Commenting on the upgrade, IPF plc’s Chief Financial Officer, Gary Thompson said: “We are delighted by the Fitch Ratings upgrade to ‘BB’ with a stable outlook. This is a reflection of our strong and consistent execution of our strategy as we grow to support more customers with responsible and affordable credit that meets their needs.”