The prestigious Fitch Ratings highly evaluates iute Group for financial stability

The international rating agency Fitch Ratings has assigned a “B-” rating for the bonds of the fintech company iute Group. According to the CEO of the company, this assessment is a historic and decisive moment for the development of the international iute Group. The iute group, which provides loans, payments and insurance brokerage services in the Balkan region, has its bonds listed on the Frankfurt and Nasdaq Baltic stock exchanges.

Fitch has given the group a “B-” rating for the issuer’s long-term credit, with a stable outlook. Some of the criteria of this assessment include the digitization of credit as a new business model, where iute Group’s digital capabilities are essential for its competitive positioning in terms of service quality, speed and overall risk management in less developed markets. digitally.

It should be underlined that iute is the first non-bank financial institution in Albania, whose holding company receives a high stability rating from an international agency such as Fitch Ratings, which indicates not only its financial performance in the eyes of investors, but also for the new standards that iute offers for the local market.

Tarmo Sild, CEO of the iute group, stated that “this assessment is a cornerstone of the company’s strategy in the capital market. We are very proud to have received a credit rating from one of the top three rating agencies in the World. This achievement allows us to change the pace in international bond markets, he said. Credit rating established for iute is a good start. However, we have room for improvement in the risk and return ratio, added Tarmo, stating that iute intends to continuously develop activities in the capital markets alongside its business operations”.

Kristel Kurvits, CFO of the iute group, believes that “this assessment should attract the interest of skeptical investors. The credit rating gives investors the certainty that iute is a transparent company and that our bonds are a safe investment”. The secured bonds with a total volume of 125 million euros, mature on October 6, 2026, have a nominal value of 100 euros per bond and pay interest twice a year with a coupon of 11%. For Estonian investors, the bonds can be freely traded daily on the Tallinn Stock Exchange.

This fintech company founded in 2008 in Estonia specializes in consumer finance, payment services, banking and insurance products. The group serves customers in Albania, Bulgaria, Moldova and North Macedonia. iute finances its loan portfolios through equity, deposits and bonds listed on the Frankfurt and Nasdaq Baltic stock exchanges.