Fitch changes Promerica view

Fitch Ratings said it affirmed Promerica Financial Corp.'s long-term issuer default ratings at B and short-term issuer default rating at B.

Fitch also affirmed the company’s senior secured debt rating at B/RR4.

The outlook was revised to positive from stable.

The agency said the positive outlook is driven by the positive trend on Fitch's assessment of the blended operating environment of the company that was revised to b from b- with a positive trend.

Fitch said it revision reflects the stabilization of most markets after the pandemic period, especially in Ecuador, Nicaragua, and Costa Rica, combined with the positive prospects in Guatemala, one of its largest and most profitable markets.

Additionally, the recovery of financial performance is visible specifically in the profitability metrics that gradually are strengthening capital metrics despite exposure to high-risk operating environments, the agency added.

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