Leonteq AG (SIX: LEON), an independent expert in structured investment products and long-term savings and retirement solutions, announced today that Fitch affirms Leonteq AG, Leonteq Securities AG and Leonteq Securities AG (Guernsey Branch) at “BBB-”/Positive.
The rating agency Fitch Ratings Ltd. has affirmed the long-term issuer default rating (IDR) of “BBB-” with a positive outlook and a short-term IDR of “F3” for Leonteq AG, Leonteq Securities AG and Leonteq Securities AG (Guernsey Branch).
According to Fitch, the long- and short-term IDRs assigned to Leonteq reflect its sound financial metrics, including its adequate and improving capitalisation, its moderate credit risk exposure and comprehensive liquidity management, as well as its sophisticated structured products issuance platform and sound risk management systems. Fitch concludes that these have allowed Leonteq to establish a solid track record in generating fairly stable revenues and adequate underlying profitability.
The positive outlook reflects Fitch’s continued view that improved issuance partner diversification, enhanced scale, more efficient balance sheet utilisation as a result of implementing Leonteq’s Smart Hedging Issuance Platform (SHIP) project and consistent further growth of its capital base could drive a one-notch upgrade of the long-term IDRs in the next six to twelve months.
Further information can be found at: www.fitchratings.com.