Business Services Industry
TURKEY: MOODY'S ASSIGNS BAA1.TR NATIONAL SCALE RATING TO C FAKTORING A.S.
IPR Strategic Business Information Database, June, 2008
Moody's Investors Service has today assigned a Baa1.tr national scale rating (NSR) to C Faktoring A.S. The rating outlook is stable. The rating is constrained by the factoring company's modest size, its relatively short track record of operation and by its considerable loan portfolio concentration to middle-market Turkish companies, a common phenomenon in the domestic factoring sector.
The rating is supported by the company's healthy profitability and asset quality metrics. It also reflects a still-developing funding base, sound capitalisation and relatively low market risk appetite. Moody's does not incorporate any likelihood of support from shareholders in the rating. The Baa1.tr NSR is derived from Moody's assessment of the company's intrinsic financial...
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