S&P affirms NIS bonds

Standard & Poor's said it affirmed its BB+ rating on NIS Group Co. Ltd.'s (BB+/stable) $200 million unsecured corporate straight bonds due June 20, 2012.

The coupon rate on the bonds is 8.06%, the agency said, adding that the rating reflects NIS Group's solid capitalization level in light of its operational risks and its efforts to diversify its revenue sources by focusing on its servicing and real estate financing businesses.

The company has made efforts to adapt to changes in the regulatory environment at a comparatively early stage by selling its unsecured consumer loan receivables, lowering its lending interest rates across the board and strengthening its financial services geared toward small and medium-sized enterprises, S&P added.

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