We are increasing the ITF Group JSC provider’s rating from B+ to A- │ Bondster

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We are increasing the ITF Group JSC provider’s rating from B+ to A-

We are increasing the ITF Group JSC provider’s rating from B+ to A-

September 26, 2023 Announcements | For investors

The Bulgarian financial company ITF Group JSC offers investments in short-term consumer loans on Bondster. After evaluating its data for the second quarter of 2023, we have decided to increase its rating from grade B+ to grade A-.

The credit risk rating compiled by the analyst team at Bondster reflects a provider’s ability to meet its obligations to investors as well as liquidity and capital requirements. We evaluate the financial condition of individual providers on an ongoing basis, and if necessary, make adjustments to their rating.

After a thorough analysis of the available data for the second quarter of 2023, we have decided to increase the rating of the provider ITF Group JSC (ITF) from grade B+ to grade A-.

The following key factors of the company’s performance led us to increase the rating.

INVEST

Significant sales growth

In the second quarter of 2023, ITF saw an impressive sales growth. Its performance in this respect demonstrates a strong ability to respond to market dynamics and increase its competitiveness. The sales were up 61% year-over-year.

Profitability

ITF made a significant profit in the second half of 2023. It reached € 573,000, which is twice as much as in the previous period in 2022. The increase in profit proves the company’s strong financial performance.

Portfolio growth

ITF continues to successfully expand its portfolio. It is the result of strategic credit initiatives and a careful approach to the financial needs of its clients. By gradually growing its portfolio, the company achieves higher stability.

Need more information? Read what a rating is and how it works.

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Author of the article: Roman Muller


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