Moody’s eyes 4Finance for downgrade

Moody’s Investors Service said it placed 4Finance Holding SA’s corporate family and long-term issuer ratings of B2 on review for downgrade, together with the B2 senior unsecured debt ratings of 4Finance, SA, the group’s Luxemburg-based debt-issuing company.

“The rating action follows 4Finance’s notice of invitation, launched on June 29, 2020, to vote on a nine-month extension to the May 2021 maturity of its €150 million senior unsecured bond (ISIN XS1417876163). The announcement of the proposed maturity extension is driven by the disruption caused to capital markets by the coronavirus outbreak,” Moody’s said in a press release.

The outbreak precluded 4Finance from refinancing in the first half of 2020, as originally intended. The company wants a short extension until its market access has improved, Moody’s said.

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