Fitch revises Multitude view to stable

Fitch Ratings said it revised the outlook on Multitude SE to stable from negative and affirmed the issuer default rating at B+. The agency also affirmed the senior unsecured notes issued by Ferratum Capital Germany GmbH at B+/RR4 and the subordinated hybrid perpetual capital notes issued by Multitude at B-/RR6.

“The revision of the outlook reflects the more stable economic backdrop of Multitude's operating environment, as well as its improved financial performance in 2021. Fitch believes that the remaining downside risks from potential increase in unemployment and further mobility restrictions to Multitude's key financial metrics (most notably asset quality, profitability and leverage) are captured in the current rating,” Fitch said in a press release.

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