Fitch Affirms Eleving Group at ‘B-‘; Outlook Stable
Fitch Ratings has affirmed Eleving Group’s Long-Term Issuer Default Rating (IDR) and senior secured debt rating at ‘B-‘. The Outlook on the Long-Term IDR is Stable.
About Eleving Group
Eleving Group comprises a number of international and fast-growing financial technology companies with a global presence. The Group operates in the vehicle and consumer finance segments in 3 continents, providing financial inclusion and disruptively changing financial services industries in its countries of operation. Founded in 2012 as Mogo in Latvia, the Group has revolutionized the way people purchase cars. Having expanded all across the Baltics within its first year in business, the Group continued expansion in the following years, servicing a total of 14 active markets as of the end of 2020.
With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, Caucasus, Central Asia, and Eastern Africa. For two consecutive years since 2020, the Group has appeared on the Financial Times list of Europe’s 1000 fastest growing companies.
Since its establishment in 2012, Eleving Group has issued more than EUR 1.115 bln. in loans, as well as served more than 500 000 customers worldwide. The current active portfolio has exceeded EUR 260 mln.
Read more: www.eleving.com
Toms Haralds Vecvagars
Investor Relations Officer