S&P revises Amigo Loans watch to negative

S&P said it revised the CreditWatch with developing implications for Amigo Loans Ltd. to negative.

“The negative CreditWatch indicates that Amigo’s business stability and liquidity could come under further pressure over the next three months, particularly if shareholders vote in favor of the resolution, complaints payouts materially increase and it is not able to resume lending,” S&P said in a press release.

S&P also noted the Financial Conduct Authority’s investigation in the company’s lending practices is ongoing.

© 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.