DBRS puts Element under positive review

DBRS said it placed Element Financial Corp.’s issuer rating of BBB under review with positive implications.

The positive review follows the company’s plans to separate into two public companies, the agency said.

Element recently announced that following a strategic review of the company’s business units, its board of directors approved plans to split Element into two separate, publicly traded companies, DBRS said.

While the separation transaction will remove some revenue diversity, the agency said it also will lower the risk profile of Element Fleet Management’s balance sheet.

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