Debt – BBB

SL BBB rating denotes a low expectation of credit risk.

rnrnldblquote The capacity for timely payment of financial commitments is considered adequate, but adverse changes in circumstances and in economic conditions are more likely to impair this capacity,
dblquote Fitch says in a release.

rnrnThe rating takes into account SF
quote s strong balance sheet indicators, long operating history and superior performances, but is also constrained by the size of its balance sheet. The implied support by the much larger holding company is also been factored in the rating.

quote s performance reflects the efficient operating systems and controls and management conservativeness. A high level of automation and lean staffing has resulted in the lowest cost to income ratio in comparison to its peers.

Despite being a small player management focus on profitability over growth has enabled SF to be the fourth most profitable finance company in absolute terms.

quote s assets quality indicators compare we

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