S&P upgrades Safmar Financial Investments

S&P said it raised its long-term rating on Safmar Financial Investments (SFI) to BB- from B+ and affirmed its B short-term rating.

The outlook is stable.

“We upgraded SFI given our view of a gradual improvement in the credit quality of its investments. Additionally, SFI has built up a zero-leverage track record, and some additional diversification in its investment portfolio with the addition of Direct Credit Centre (DCC),” S&P said in a news release.

“That said, our ratings are still constrained by SFI's limited portfolio size (about $1.3 billion) and diversification, and its sole exposure to the economic and business development in Russia (foreign currency BBB-/stable/A-3; local currency BBB/stable/A-2).”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.