Bondster has upgraded the score of Peru-based originator CrediFace from B to B+, noting its robust monetary efficiency.
The Czech peer-to-peer lending platform, which connects traders with mortgage originators worldwide, mentioned that the Peruvian shopper lender was worthwhile within the first quarter of this yr and maintains a low default charge for its merchandise, with simply 11 per cent of debtors greater than 30 days in arrears.
Bondster mentioned that CrediFace is steadily constructing its portfolio, which now exceeds €1m (£856,918), whereas approving simply eight per cent of mortgage candidates.
Learn extra: Bondster rewards traders for suggestions
Capital adequacy exceeds 17 per cent and liquidity indicators are at a superb degree.
Bondster mentioned that its analytical crew compiles credit score threat scores for all originators on its platform, assessing their means to satisfy their obligations to traders, to satisfy liquidity wants and to have enough capital.
The agency mentioned it constantly evaluates the monetary situation of particular person originators and adjusts the scores accordingly.
Learn extra: Czech P2P Bondster indicators 15k traders since inception
Whereas it heralded CrediFace’s monetary efficiency, it famous worsening financial situations in Peru. The El Nino Costero excessive flood occasion in Northern Peru impacted financial exercise within the nation, and can proceed to take action till the start of 2024, Bondster mentioned.
Bondster additionally highlighted excessive inflation, tight financial coverage, social tensions and international recession as headwinds in Peru, alongside corruption and political instability.
Nonetheless, it mentioned that Peru stays an vital participant within the area and has the potential for additional progress and improvement.
Bondster has welcomed a variety of new originators to its platform of late, together with Kazakhstan-based motor finance supplier Jet Automobile and UK small- and medium-sized enterprise lender Huddle Capital.