The rating given to individual lenders on the platform Bondster represents the strength of their buyback guarantee. Each quarter, we perform regular monitoring where both positive and negative factors are considered, and based on these, the rating of an individual provider can be upgraded, downgraded, or remain the same. Below, you will find information on loan providers whose rating has changed.
RapiCredit downgraded from B+ to B
Based on our regular quarterly monitoring of financial data for Q4/2022, we have downgraded RapiCredit’s rating from B+ to B. The main reasons for this decision include a slowdown in the recovery of principal disbursed, an increase in the share of overdue loans and a deterioration in liquidity levels. Despite the deterioration in some financial indicators, RapiCredit remains a capital-strong and profitable company with a capital-to-asset ratio of 19% and ROA of 6%.
NordCard upgraded from B+ to A-
After several years of building its customer base and loan portfolio, NordCard reached a break-even point and reported a profit last year. The company maintains a low default rate on its loans and was able to increase its portfolio to almost 3.5 million euros. The company is capital-strong, with a ratio of equity to assets exceeding 45%, and its liquidity indicators are at a good level. On Bondster, the company has never had any problems with timely repayment. At the moment, 100% of its loans are being duly repaid.
Last update: 22 March 2023
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Author of the text: Roman Muller
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