Czech peer-to-peer lending market Bondster has improved the ranking of its originator ITF Group from B+ to A-.
The Bulgarian agency presents short-term shopper loans on the Bondster platform.
Bondster’s analytical workforce repeatedly evaluates the platform’s originators and adjusts the rankings if mandatory.
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The credit score threat ranking assesses the power of credit score suppliers to fulfill their obligations to buyers, their capacity to fulfill liquidity wants and whether or not they have adequate capital.
Bondster stated that it upgraded ITF Group for various causes.
Firstly, ITF Group noticed 61 per cent year-on-year income progress within the second quarter of this 12 months.
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In the meantime, its income rose to €573,000 (£497,622) within the second quarter, which is twice as a lot because the comparative interval in 2022.
Bondster additionally stated that ITF Group continues to increase its portfolio property, because of strategic credit score initiatives and a cautious method to the monetary wants of its purchasers, which will increase the general stability of the corporate.
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