Fitch puts National Factoring on positive watch

Fitch Ratings placed National Factoring Co. long-term issuer default rating of' B+ on positive watch following PJSC Sovcombank's announced offer for the company.

The positive watch reflects the potential positive impact of institutional support from a new ultimate shareholder should the acquisition complete as planned.

Fitch understands from management the aim is to conclude the deal in next two months subject to regulatory approvals. The acquisition needs to be approved by the Central Bank of Russia and the antitrust body.

© 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.