S&P assigns Eqstra zaA/zaA-1

Standard & Poor's said it assigned its zaA/zaA-1 long- and short-term South Africa national-scale ratings to Eqstra Holdings Ltd.

The national-scale ratings on Eqstra reflect the company's leading position in the South African vehicle leasing market, good financial profile supported by solid profitability, satisfactory asset quality and good capitalization, a committed and entrenched management implementing a clear and focused strategy and adequate risk management architecture, the agency said.

Constraining factors for the ratings are client and geographic concentration, short-track record of being independently managed and owned outside the Imperial Holdings group and a concentrated wholesale funding profile, the agency noted.

© 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.