Tuesday, September 15, 2015

Cabot Financial upgraded to B+ rating by Standard & Poors

Cabot Credit Management, a leading ethical acquirer and manager of consumer debt, today announced that Cabot Financial's credit rating has been raised from B to B+ by Standard & Poors (S&P)

Chris Ross-Roberts, Chief Financial Officer, Cabot Credit Management, said: "This is excellent news and reaffirms the strengthening of the financial health of our company. In the report, S&P highlighted our established relationships with a variety of debt sellers, solid pricing processes and track record of predicting actual collections"

The ratings agency concluded that the increased earnings capacity and continued growth of total collections is likely to lead to a sustainable improvement in credit metrics for Cabot Financial in 2016.

The agency also affirmed the B+ issue rating on Cabot Financial S. A's senior secured notes.

 

About Cabot Credit Management

Cabot Credit Management is a market leader in debt purchasing, contingency collections, and customer tracing, and is divided into four specialty businesses: Cabot Financial, Cabot Financial Ireland, Apex Credit Management and dlc.

As at 30 June 2015 the combined Cabot Credit Management group has invested £1.7 billion in acquiring portfolios with a Face Value in excess of £16.0 billion update and has an ERC (estimated remaining collections) of £1.85 billion. It manages in the region of £1 billion of assets on behalf of clients, collects over £35 million per month on portfolios it either owns or services on behalf of clients, and has delivered consistently strong financial performance, having grown its business in each of the last 16 years without exception.

The group, which has purchased over 7 million customer accounts, employs approximately 1200 people with offices in Kings Hill, Stratford-upon-Avon, Brackley, Dublin, Worthing, and London. The company prides itself on its ethical values, customer service and high standards. It has an impressive list of accolades including:

The controlling shareholder of Cabot Credit Management is Encore Capital Group, an international speciality finance company providing debt recovery solutions, with the remaining equity being held by a fund advised by J.C. Flowers & Co. in addition to company management.

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The Cabot Credit Management Group incorporates: