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IPF credit rating downgraded

09 June 2017 08:43

International Personal Finance has noted that Fitch has downgraded the company's long-term credit rating by one notch from BB+ to BB, with a negative outlook.

IPF said this was part of the scheduled annual review of the rating by Fitch.

It noted that Fitch highlighted the announcement in December of a proposal by the Polish Ministry of Justice to reduce the cap on non-interest charges on consumer loans; and the announcement in January that IPF's home credit company in Poland, Provident Polska, would appeal a decision received from the Polish Tax Chamber.

IPF said it had already updated public markets on these issues, and there were no further significant developments on these issues at this stage.

At 8:43am: (LON:IPF) International Personal Finance PLC share price was -1.25p at 159p

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