Bondster upgrades ITF Group’s credit risk rating

Czech peer-to-peer lending marketplace Bondster has improved the rating of its originator ITF Group from B+ to A-.

The Bulgarian firm offers short-term consumer loans on the Bondster platform.

Bondster’s analytical team continuously evaluates the platform’s originators and adjusts the ratings if necessary.

Read more: Bondster adds new originator and two new investor incentives

The credit risk rating assesses the ability of credit providers to meet their obligations to investors, their ability to meet liquidity needs and whether they have sufficient capital.

Bondster said that it upgraded ITF Group for a number of reasons.

Firstly, ITF Group saw 61 per cent year-on-year revenue growth in the second quarter of this year.

Read more: Bondster rewards investors for recommendations

Meanwhile, its profits rose to €573,000 (£497,622) in the second quarter, which is twice as much as the comparative period in 2022.

Bondster also said that ITF Group continues to expand its portfolio assets, as a result of strategic credit initiatives and a careful approach to the financial needs of its clients, which increases the overall stability of the company.

Read more: Bondster launches secondary market