Moody’s rates goeasy, notes Ba3

Moody's Investors Service said it assigned a Ba3 corporate family rating to goeasy Ltd. and a senior unsecured rating of Ba3 to its unsecured notes due 2022.

The outlook is stable.

Moody’s said the Ba3 corporate family rating reflects goeasy's solid franchise as a leading provider of alternative financial services within Canada's subprime consumer lending market.

“In addition, the ratings reflect goeasy's solid fundamentals including profitability and strong capital. They also incorporate the company's evolving funding profile, a monoline business model, and susceptibility to regulatory threats to its pricing and business practices,” the agency said in a news release.

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