(Alliance News) - Moody's Investors Service on Wednesday affirmed the Baa1 issuer rating of 3i Group PLC, with a stable outlook, due to the UK-listed private equity firm's disciplined investment approach and rigorous asset management policies.
The ratings agency said 3i's rating is supported by its limited outstanding debt, conservative financial policies, high cash levels, and solid mid-market private equity franchise. However, it added that the rating remains constrained by the speculative grade nature of 3i's investment portfolio and weak funds from operations interest coverage.
The stable outlook reflects Moody's expectation that 3i's operating performance will remain solid, and that the company will maintain a strong financial position and adequate liquidity to support investments.
Shares in 3i Group were trading 0.2% higher at 1,047.50 pence each on Wednesday morning.
3i Group (III)