GetBack S.A. (Poland) - credit rating assignment
EuroRating has assigned a BB credit rating to the Warsaw Stock Exchange "Catalyst" bond market listed company GetBack S.A. (Poland). The rating outlook is stable.
The assigned credit rating is a rating for the issuer – it consitutes an overall assesment of the creditworthiness of the rated entity and relates to the credit risk of its unsecured and unsubordinated financial liabilities.
GetBack S.A. operates in the receivables management industry and specializes in medium and large size debt purchasing transactions. The company is one of the leaders in this area on the Polish market with a portfolio of receivables as of 30 June 2016 of a nominal value of 17 bln PLN (i.e. 20% market share).
GetBack S.A. is the first company in the Polish receivables management industry, which has obtained an independent assessment of its credit risk in the form of a credit rating assigned by a credit rating agency. The company has an open public bond issue program worth up to 300 mln PLN.