S&P affirms Falcon on new loan

S&P said it affirmed the BB- long-term and B short-term issuer credit ratings on Falcon Group Holdings (Cayman) Ltd.

The outlook is stable.

The affirmations follow Falcon's recent finalization of a $100 million five-year term loan transaction with KKR Credit, the agency said.

S&P said it believes this new loan enables Falcon to expand and diversify funding sources, support international growth and broaden its client and product base.

Falcon continues to fund the majority of its transactions through non-recourse refinancing with a range of banks shortly after origination, the agency said.

The ratings continue to reflect a view of the company's niche position in the global trade finance market and the leverage and debt servicing profiles resulting from its funding strategy, S&P 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.