Moody’s upgrades Falcon Group

Moody’s Investors Service said it upgraded to Ba1 from Ba3 the corporate family and the issuer ratings of Falcon Group Holdings (Cayman) Ltd.

This rating action concludes the review for upgrade initiated on Aug. 30. Moody’s changed the outlook on Falcon to stable from rating under review.

“The upgrade of Falcon’s CFR and issuer ratings to Ba1 reflects the strengthening of Falcon’s overall credit profile as the company increasingly shifts its business mix to the provision of specialized inventory finance and receivables financing for mid and large-cap customers, characterized by higher credit quality, lower risk adjusted margins and higher recurring volumes,” said Moody’s in a press release.

Falcon began repositioning its business model in 2017. Moody’s said it believes Falcon is now less exposed to credit and operational risk and should be able to generate more sustainable and less volatile earnings going forward.

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