Fitch revises Promerica view to stable

Fitch Ratings said it changed the outlook to stable from negative and affirmed Promerica Financial Corp.'s long-term issuer default ratings at B and the senior secured debt ratings at B/RR4.

The revision is driven by the agency’s opinion that PFC was able to sustain its current financial performance despite operating environment challenges, Fitch said.

“This is reflected in revisions to PFC's asset quality and earnings and profitability scores to stable from negative, as Fitch believes those factors are less likely to suffer from further significant shocks as relief measures have expired in most jurisdictions and NPL visibility has increased,” the agency said in a press release.

© 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.