A B3 credit rating indicates that the company is operating at between 65 – 70% of its potential.
A credit rating of B3 suggests that the business of St Laurence Mortgages is of reasonably good quality and that, with respect to the risk of non-payment of corporate debts and/or the degree of risk of insolvency, the company is a moderate risk and more subject to fluctuations in market conditions.
This is the first credit rating for St Laurence It remains in place until October 2005 unless there is a material change in the company.
Rapid Ratings says the company has been performing at a very high level of financial efficiency, while operating at a high-risk end of the loans market.
Operational management of the business is generally good to better than average and it has some good tools to manage the risks of its business in terms of personnel, loans management skills and processes. Its business model is generally sound.
It has grown quite rapidly in recent times and strategic management is moderate but improving.
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