OSLO, NORWAY: For the second year in a row, Atea ASA has been awarded the highest rating in environmental and social performance by EcoVadis, ranking among the top 1% of more than 75,000 companies evaluated, a news release said. Atea has received numerous awards for its sustainability work over several years. In May 2021, Atea…
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Fitch revises Platform Housing Group’s outlook to stable
LONDON, UK: Fitch Ratings has revised Platform Housing Group’s outlook to stable, a news release said. Platform Housing Group has experienced a favourable ratings change. The new rating, A+ (stable outlook) (formerly A+ (negative outlook), reflects a similar amendment to the UK Sovereign rating. The revision to the Sovereign rating reflects the stronger resilience of…
S&P Global revises outlook for Kaspi.kz’s Kaspi Bank to positive
LONDON, UK: S&P Global announced its decision to revise the outlook for Kaspi Bank, a core component of Kaspi.kz’s Fintech Platform, to Positive citing strong asset quality, solid operating performance and shift towards BNPL and merchant financing. According to S&P Global: · “Operating performance remained strong in 2020 and first-quarter 2021. Return on average equity…
Private equity holdings of U.S. insurance industry grows 14.8% in 2020
OLDWICK: Private equity holdings of U.S. insurance industry grew by 14.8% in 2020, with the life/annuity insurance industry seeing its highest value in five years, at $71.7 billion, global rating agency AM Best reports. The Best’s Special Report, “Private Equity Investments Still Attractive to US Insurers,” states that U.S. property/casualty insurers also increased the book-adjusted/carrying…
Fitch upgrades PJSC Polyus ratings with a stable outlook
LONDON, UK: PJSC Polyus notes that Fitch Ratings has upgraded the Company’s Long-term Issuer Default Rating to ‘BB+’ from ‘BB’, with stable outlook. The new rating reflects the Company’s strong business profile and credit metrics, achieved as a result of pro-active debt management with a total of USD 1.1 billion repaid since the end of…
Financial strength of Blue Cross Life Insurance of Canada under review with negative implications
OLDWICK: AM Best has recorded negative implications for the Financial Strength Rating of Blue Cross Life Insurance Company of Canada (BCLIC) after it selected an investment manager facing fraud investigations. AM Best has recorded negative implications for the Financial Strength Rating of Blue Cross Life Insurance Company of Canada (BCLIC) and placed the ratings of…
S&P improves Metalloinvest outlook to positive from stable
MOSCOW, RUSSIA: Metalloinvest Finance Designated Activity Company (IRSH), a leading global iron ore and HBI producer and supplier, announced that Standard & Poor’s Ratings Services (S&P) has improved the company’s outlook to positive from stable, affirming a ‘BB+’ long-term corporate credit rating. According to a statement published by S&P, Metalloinvest’s outlook revision to positive reflects…
Moody’s re-affirms Qatar Islamic Bank’s A1 rating with stable outlook
DOHA, QATAR: Moody’s Investors Service has reconfirmed the long-term deposit rating of Qatar Islamic Bank (QIB) at A1, with a stable outlook, a news release said. Moody’s said in its Credit Opinion Report that QIB’s assigned rating reflects the bank’s strong asset quality, strong and stable profitability, adequate capital and liquidity buffers, supported by its…
S&P Global Ratings Reaffirms Halyk Bank’s rating; outlook stable
LONDON, UK: S&P Global Ratings has affirmed its ‘BB/B’ long- and short-term issuer credit ratings and its ‘kzA+’ Kazakhstan scale rating on Halyk Savings Bank of Kazakhstan. The outlook is stable. S&P Global Ratings has noted that the Bank has reduced its stock of problem assets substantially over the past several years, and believes that…
Moody’s confirms Qatar International Islamic Bank rating at A2/Prime-1
QATAR: Qatar International Islamic Bank (QIIB) has announced that Moody’s has confirmed the credit rating at A2 / Prime-1 with a stable outlook. Moody’s credit rating agency reconfirmed QIIB’s long-term credit rating at (A2) with a stable outlook, which affirms the bank’s strong financial position. This high rating reflects the strength and robustness of the…
Polymetal achieved prime status in ISS ESG Corporate Rating
LONDON: According to the most recent ISS ESG Corporate Rating, Polymetal’s score improved from С+ to B-, crossing the Prime threshold. The ISS ESG Corporate Rating is a holistic, annual review of how companies implement and execute sustainability policies. Prime status is attributed to those companies with an overall ESG performance above the sector-specific Prime…
S&P affirms Sistema’s credit rating at BB, outlook positive
MOSCOW: Sistema PJSFC, a publicly traded Russian investment company, announced that S&P Global Ratings has affirmed the Corporation’s credit rating at ‘BB’ and upgraded the outlook to “positive” as a result of the IPO of the Corporation’s portfolio company Segezha Group. Vladimir Travkov, Sistema’s Vice President for Finance, said: “The upgrade of S&P’s outlook to…