Iute Group: Initial Fitch rating B- (Stable Outlook)
Tallinn, Estonia, 26 July 2024. Iute Group, a leading European personal finance group, has been assigned a B- (Stable Outlook) Long-Term Issuer Default Rating (IDR) and a B- Senior Secured Debt Rating for its Corporate Bond 2021/2026 (XS2378483494) from Fitch Ratings (Fitch). Partnering with Fitch in the rating process is an important cornerstone of Iute Group's capital market strategy.
Tarmo Sild, CEO of Iute Group: “We are very pleased to have received a credit rating from one of the world's top three rating agencies. The rating reflects Fitch's positive assessment of our digital expertise as a key strength and our proven access to international debt markets. The importance of Energbank for the positioning of Iute Group was acknowledged accordingly. It is our ambition to continuously develop our capital markets activities in line with our operating business.”
About Iute Group:
Iute Group is a fintech company established in 2008 in Estonia. The Group specializes in consumer finance, payment services, banking, and insurance products. It serves customers in Albania, Bulgaria, Moldova, and North Macedonia. Iute Group finances its loan portfolios with equity, deposits, and secured bonds on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List. www.iute.com
Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iute.com
Phone: +372 622 9177
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