Fitch ups Vallibel Finance

Fitch Ratings said it upgraded Vallibel Finance plc's national long-term rating to BB-(lka) from B+(lka).

The outlook is stable.

The upgrade reflects sustained improvements in its credit metrics, in particular its asset quality, profitability and capitalization, Fitch said.

The agency said its increased scale of operations should help strengthen the company's balance sheet over the medium term.

The stable outlook reflects a view that the company will be able to maintain its financial profile, supported by ongoing improvements to its systems and processes and the improving economic environment, Fitch said.

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