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S&P assigns Eqstra zaA/zaA-1
Standard & Poor's said it assigned its zaA/zaA-1 long- and short-term South Africa national-scale ratings to Eqstra Holdings Ltd.
The national-scale ratings on Eqstra reflect the company's leading position in the South African vehicle leasing market, good financial profile supported by solid profitability, satisfactory asset quality and good capitalization, a committed and entrenched management implementing a clear and focused strategy and adequate risk management architecture, the agency said.
Constraining factors for the ratings are client and geographic concentration, short-track record of being independently managed and owned outside the Imperial Holdings group and a concentrated wholesale funding profile, the agency noted.
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