Iute Group: Initial Fitch Rating B- (Stable Outlook)

Iute Group, a leading European personal finance group, has received a B- (Stable Outlook) Long-Term Issuer Default Rating (IDR) from Fitch Ratings. The company's Senior Secured Debt Rating for its Corporate Bond 2021/2026 (ISIN: XS2378483494) was also rated B-. This rating is a significant milestone in Iute Group's capital market strategy.

According to Tarmo Sild, CEO of Iute Group, the rating underlines Fitch's positive assessment of the group's digital expertise and access to international debt markets. The role of Energbank in Iute Group's positioning was also highlighted. Iute Group aims to further develop its capital market activities to support its business operations.

Iute Group, established in 2008 in Estonia, focuses on consumer finance, payment services, banking, and insurance products. The company operates in Albania, Bulgaria, Moldova, and North Macedonia, financing its loan portfolios through equity, deposits, and secured bonds. Their bonds are listed on the Frankfurt Stock Exchange and the Nasdaq Baltic Main List.