Mogo Finance achieves a new milestone, B- (Stable outlook) rating from Fitch Ratings

Mogo Finance, one of the largest used-car financing companies in Europe, has recently announced a new milestone, as Mogo Finance and its group companies have received a B- “Stable Outlook” rating from Fitch Ratings.

Specifically, the Mogo Group received a B- Long-Term Issuer Default Rating (IDR). In addition, it was also given a Senior Secured Debt Rating assigned B- for its 9.50% corporate bond 2018/2022 (XS1831877755).

The ratings take into account Mogo’s nominal franchise in a competitive niche, increasing exposure to volatile markets, elevated risk appetite and high leverage. They also reflect sound profitability, a track record in placing public bonds and adequate experience of the management team.

Now that Mogo has received a rating from Fitch, the rating agency will constantly monitor the loan originator’s financial reports and performance. This will ensure transparency and even higher standards from Mogo. The rating will further increase the attractiveness of Mogo to investors.

“We are very satisfied with the result of the rating process. The B- ratings reflect the high yield potential of Mogo Finance and thus provides investors with sound insights in our financial stability and stable valuation basis for future access to capital markets to expand our business activities,” said Modestas Sudnius, CEO of Mogo Finance.

Along with Moody’s and Standard & Poor’s (S&P’s), Fitch is one of the top three credit rating agencies in the world.

The full press release could be found on Fitch homepage




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