Fitch Ratings
Comprehensive Credit Ratings Information and Analysis
Address
30 North Colonnade
Canary Wharf
London
E14 5GN
United Kingdom
Erwin Van Lumich
(Managing Director, Global Head of NBFI Business and Relationship Management)
Canary Wharf
London
E14 5GN
United Kingdom
Erwin Van Lumich
(Managing Director, Global Head of NBFI Business and Relationship Management)
Phone
Fitch Ratings is a global leader in providing credit ratings, research, and informed financial opinions.
The company is focused on delivering value to clients through independent opinions on prospective credit, with an outlook influenced by extensive experience in financial markets.
Rating Services
The insight investors receive through our services gives them the confidence to make crucial credit-based decisions.
Fitch provides public and private ratings on more than 150 finance and leasing entities and their debt instruments. Sectors covered include:
- Aircraft leasing
- Fleet and truck leasing
- Equipment rental
- Auto leasing and related products
- Consumer and asset finance
The agency has leading coverage of global asset-backed securitisations, with more than 1,300 transactions under surveillance.
Our finance and leasing coverage ranges from some of the world’s largest international corporations, notably including the major auto manufacturers, to local market players. Many entities use ratings to gain access to funding, but they can also be used:
- As a peer comparison
- To demonstrate transparency
- As a marketing tool
Employing a dedicated sector methodology, our analytical process blends a careful mix of quantitative and qualitative factors. By pairing comprehensive data and well-tested models with independent thinking and insight, we consider every angle of a transaction or entity.
Fitch produces insightful research and timely commentary related to industry-wide issues. With more than 2,500 distinct institutional investor subscribers to Fitch’s research and more than 63,000 active users of www.fitchratings.com, Fitch-rated entities gain enhanced visibility to market participants.
About Fitch Group
Fitch Group is an international leader in financial information services, operating throughout more than 30 countries. Fitch Group comprises:
- Fitch Ratings, global leader in credit ratings and research
- Fitch Solutions, leading provider of credit market data, analytical tools and risk services
- Fitch Learning, a preeminent training, and professional development firm
Fitch Group is owned by Hearst, with dual headquarters in London and New York. For additional information, please fill out the enquiry form or use the contact details on the right of this page.
Primer on DeFi: Risks and Regulations
The Ecosystem is not yet systemic, but many risks lurk and regulation beckons.
Chinese Leasing: Market Overview and Ratings Outlook
China’s leasing sector has continued to expand, benefiting from increasing financing opportunities and expanded funding channels as a result of favourable regulatory developments. The overall lease contract balance rose by 14% in 2017, slowing from 20% in 2016 but still well above the GDP growth rate, with independent (foreign-funded and domestic) leasing companies being particularly active. The sector’s funding from bond and asset-backed securities (ABS) issuance tripled to $64bn in 2017 from $21bn in 2015. Onshore bonds and ABS have become important direct funding sources in addition to bank loans. The regulators’ increased scrutiny of shadow banking and moves to shut down illicit funding channels (mainly bank loans packaged into trust or wealth management products) has led Chinese lessors’ to rely less on these sources. This improves the transparency and funding structure of lessors, which is positive for sector stability. In addition, the Shanghai and Shenzhen exchanges further improved standards and transparency for ABS issuance. However, less-established lessors with weaker credit profiles may face rising funding cost and poorer access to liquidity, which could threaten their viability. Download to find out more.
Fitch Rtgs Completes Aircraft Lessor Peer Review; Stable Credit Profiles Despite Looming Macro Risks
While rating headroom has decreased, with recent impairment charges taken on Russia aircraft, modest starting leverage and sufficient liquidity coverage offer a degree of cushion against negative rating migration.
28 June 2022Most FI Outlooks Still Neutral, but Risks Skewed to the Downside
Most bank, non-bank financial institution (NBFI) and insurance sectors still show steady credit fundamentals, but risks are skewed to the downside, particularly in emerging markets.
23 June 2022European Equipment Leasing Sector Growing; Ashtead Upgraded
Fitch expects eurozone real GDP growth of 3% in 2022, and equipment-leasing companies stand to benefit from construction projects deferred in 2020–2021.
13 June 2022Fitch Ratings Updates Where ESG Matters in Credit for NBFIs Report
Social issues are rising in prominence for investors and issuers, affecting about 14% of global NBFI ratings.
14 March 2022Decentralised Finance May Divide into Regulated and Unregulated
Alongside market and liquidity risks, fraud is a significant risk with DeFi transactions.
15 February 2022Primer on DeFi: Risks and Regulations
The inherent flexibility, interoperability, and openness of DeFi applications (dapps), allied to a lack of regulatory oversight, facilitates product innovation.
15 February 2022Fitch Rates AMAG Leasing AG Conditional Pass-Through Auto Covered Bond ‘AAA(EXP)’
The assignment of the final rating is contingent upon receipt of final documents and legal opinions conforming to the information already received.
30 November 2021Fitch Rates Arval ‘A’; Negative Outlook
Arval is domiciled in France and is 100% owned by BNP Paribas Fortis SA/NV (A+/Negative/F1), itself a wholly-owned subsidiary of BNP Paribas S.A. (BNPP; A+/Negative/F1).
18 January 2021Switch to Cash Accounting Confirms Pressures on Aircraft Lessors
The switch to cash-based accounting is usually preceded by a drawdown of security deposits, with lessors switching accounting methodologies when lease receivables exceed security packages.
6 January 2021Fitch Rates Boels ‘BB-‘; Outlook Stable
26 February 2020Fitch Rates TBC Leasing at ‘BB-‘; Outlook Stable
16 January 2020Fitch Rates Mogo Finance ‘B-’; Outlook Stable
1 August 2019Fitch Ratings Completes Aircraft Lessor Peer Review
16 July 2019Automotive Slowdown Puts the Brakes on World GDP Growth
10 June 2019Fitch Ratings: Prolonged Chinese Auto Market Slowdown Could Affect Ratings
1 May 2019German Diesel ABS Risks May Be Easing, but Have Not Disappeared
27 March 2019Fitch Rates Georgian Leasing Company at ‘B+’; Outlook Positive
20 November 2018Fitch Rates Leasing Group Kazakhstan ‘B’; Outlook Stable
9 November 2018Fitch Rates ALD S.A. at ‘A-‘/Stable; EMTN Programme at ‘A-‘/’F1’
21 September 2018Risks to German Used Diesel Car Prices, Demand Persist
30 August 2018Fitch Completes Aircraft Lessor Peer Review
8 August 2018Light Truck RV Performance to Slow in US Auto Lease ABS
14 June 2018Swelling Used Vehicle Supply to Dent Recoveries for US Auto ABS
29 May 2018East Coast Failure Does Not Affect Lessors Credit Quality
21 May 2018European Auto ABS Index Performance Weakens in 1Q18
17 May 2018Aircraft Lessors Reduce Average Fleet Age
4 April 2018Fitch Ratings, Global HQ
30 North Colonnade
Canary Wharf
London
E14 5GN
United Kingdom
Erwin Van Lumich
(Managing Director, Global Head of NBFI Business and Relationship Management)
- +34 93 323 8403
- Erwin.vanlumich@fitchratings.com
- www.fitchratings.com
Telephone Number
Email Address
Links
Fitch Ratings, New York Office
33 Whitehall Street
New York
NY 10004
United States of America
- +1 212 908 0500
Telephone Number
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