Non-bank General Finance has been given its first-ever credit rating.
Australian based rating house Equifax has given General Finance a credit rating of BB- with a positive outlook.
General Finance chairman Mr Bugo said; “We are very pleased to achieve this rating in our first review. I am sure all those who read the report will gain a greater understanding of General Finance and the niche in which it operates. The positive outlook is very pleasing, and we are sure that investors will gain confidence from the rating and the full report”.
Managing director Brent King says the firm has strong investor support and it has been able to grow its loan book very positively. "We did not need to complete the credit rating as we are able to operate within the exemption under the Non-bank Deposit Takers (Credit Ratings Minimum Threshold) Exemption Notice 2016. We decided to undertake the process as we believe that investors would be better informed with a rating.”
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