S&P changes Falcon Group to positive

S&P said it revised its outlook on Falcon Group Holdings (Cayman) Ltd. to positive from stable and affirmed its BB-/B issuer credit ratings.

The agency said the outlook revision acknowledges the progress that Falcon continues to make in enhancing its corporate governance and infrastructure, diversifying its funding sources and maintaining a disciplined risk appetite and underwriting criteria.

“We expect that Falcon will continue to expand organically by prioritizing midsize and large clients over small businesses. We expect that it will also simplify its product range and widen its geographical spread by developing its newer markets including Australia, Singapore and the U.K.,” S&P said in a news release.

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