Mogo Finance: Initial Fitch Rating B- (stable outlook)
Riga, Latvia, 23 July 2019. Mogo Finance and its group companies (the “Group”), specialized in used car financing, have received a B- (Stable Outlook) Long-Term Issuer Default Rating (IDR) from Fitch Ratings (Fitch) and a Senior Secured Debt Rating assigned B- for its 9.50% corporate bond 2018/2022 (XS1831877755).
In line with the recent uplisting to the regulated market (General Standard) of the Frankfurt Stock Exchange and its associated higher transparency and disclosure requirements, the Fitch B- ratings will further increase the attractiveness of the Mogo Finance Bond to investors.
Modestas Sudnius, CEO of Mogo Finance, commented
“We are very satisfied with the result of the rating process. The B- ratings reflect the high yield potential of Mogo Finance and thus provides investors with sound insights in our financial stability and stable valuation basis for future access to capital markets to expand our business activities.”
The complete Fitch Ratings press release is available for download at https://www.fitchratings.com/site/pr/10083478.
For more information, please contact:
|Mogo Finance (CFO)
+371 66 900 900
|Mogo Finance (Investor Relations Manager)
+371 27 073 993
|Aalto Capital, Sven Pauly|| email@example.com
+49 89 89867770
About Mogo Finance:
Mogo Finance is one of the largest and fastest growing secured used car financing companies in Europe. Recognizing the niche in used car financing underserved by traditional lenders, Mogo Finance has expanded its operations to 15 countries issuing over EUR 358 million up to date and running a net loan portfolio over EUR 140 million. Mogo offers secured loans up to EUR 15,000 with maximum tenor of 84 months making used car financing process convenient, both for its customers and partners. Wide geographical presence makes Mogo unique over its rivals and diversifies revenue streams.
Mogo Finance operates through its own branch network, more than 1,500 partner locations and strong online presence. Physical footprint makes Mogo Finance top of mind brand in used car financing. Established in 2012, headquartered in Riga, Latvia Mogo Finance operates in: Latvia, Estonia, Lithuania, Georgia, Poland, Romania, Bulgaria, Macedonia, Moldova, Albania, Belarus, Armenia, Ukraine, Kazhakstan and Uzbekistan.
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