FiinRatings upgraded the rating outlook on F88 Business Join Stock Company to ‘’Stable from ‘Negative’

FiinRatings has revised the outlook from ‘Negative’ to ‘Stable’ while affirming its ‘BBB-‘ credit rating on F88. This is the 6th rating update announcement since FiinRatings published F88’s initial credit rating on October 12, 2021. Prior to this, F88’s rating outlook had been revised by FiinRatings from "Stable" to "Negative" by the end of 2023. 

Hanoi, May 23, 2024 

FiinRatings has revised the outlook from ‘Negative’ to ‘Stable’ while affirming its ‘BBB-‘ credit rating on F88. This is the 6th rating update announcement since FiinRatings published F88’s initial credit rating on October 12, 2021. Prior to this, F88’s rating outlook had been revised by FiinRatings from "Stable" to "Negative" by the end of 2023. 

This upgrade is mainly based on F88’s recent improvement on its credit profile and our expectation for this trend to continue over the next 12 months.  Specifically, the Company has demonstrated improvements in asset quality, profitability, and funding capacity, despite the recent downturn in the consumer finance industry in general and the alternative lending segment in particular. 

Our recent upgrade also reflects F88's continued leading position in the alternative lending segment, alongside with its various strategies to generate diverse revenue streams, which contributes to a stable business., Besides, its capital structure and profitability continue to maintain positive outlook, while asset quality is showing recovery, supported by the Company’s stable capital mobilization and liquidity position.  

FiinRatings - anticipates F88 to maintain its position on the market and gradually enhance its credit profile, despite facing slow economic recovery as well as challenges from the currently struggling consumer finance industry. 

Please click the link below for full Rating Public Announcement HERE.

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