Fitch Affirms 'BBB' IDR on Investcorp BSC and Subsidiaries.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed the 'BBB' long-term Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) on Investcorp Bank BSC (Binary Synchronous Communications) See bisync. along with its subsidiaries, Investcorp SA and Investcorp Capital Ltd. Fitch affirms all short-term and long-term ratings, as listed at the bottom of this commentary. The Rating Outlook is Positive for Investcorp Bank BSC, Investcorp SA, and Investcorp Capital Ltd. The ratings of these institutions reflect the strength of Investcorp's Gulf-based franchise, diversified funding Diversified Fund A type of investment fund that contains a wide array of securities and is adequately diversified. A mutual fund classified as a "diversified fund" will actively maintain a high level of diversification in its holdings, thus reducing the amount of risk in the fund, mix, good liquidity, sufficient capital, and continued expansion across the broader range of alternative investments. Net income has been positively affected by strong performance of the asset management business where continued growth has augmented capacity to generate revenue while serving to counterbalance volatility inherent in the private equity business. Fitch maintains the Positive Outlook based on strong revenue growth from fee-based business lines, improving diversification of funding sources, and capital-raising activities. An upgrade may be warranted if asset management reaches projected growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , material improvement in leverage occurs, and diversification in the private equity portfolio is maintained. Fitch affirmed the following ratings, with a Positive Outlook Investcorp Bank BSC --Long-term Issuer Default Rating (IDR) 'BBB'; --Short-term rating 'F2'; --Individual 'B/C'; --Support '5'. Investcorp SA --Long-term IDR 'BBB'; --Short-term rating 'F2'; --Individual 'B/C'; --Support '5'. Investcorp Capital Ltd. --Long-term IDR 'BBB'; --Senior debt 'BBB'; --Short-term rating 'F2'; --Individual 'B/C'; --Support '5'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria, and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance, and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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