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Agusto & Co hereby affirms a ‘Bbb+’ rating to United Capital Plc

Rating Release

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

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.