Agusto & Co hereby affirms a ‘Bbb+’ rating to United Capital Plc
Rating Expires 30 June 2020
Agusto & Co hereby affirms a ‘Bbb+’ rating to United Capital Plc. (“United Capital” or “the Group”). The rating is hinged on the Group’s strong brand equity, good profitability across the individual businesses, good liquidity and acceptable funding profile.
The rating is however constrained by significant exposures to entities related to the former parent company of the Group. In addition, we consider the ambiguity around the Group’s largest shareholder with a 26% equity stake a rating concern
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