July 8, 2022 |
Fitch Ratings said it assigned a first-time rating of BBB- with a stable outlook to Chilean retirement fund manager Caja Los Andes, based on the company's leading position as a payroll lender.
Caja Los Andes holds a 66% market share in the payroll loans sector in Chile and about 6% in consumer loans, including credit cards, Fitch said in a report on Tuesday.
Compared to other non-bank lenders, Caja Los Andes has a historically low debt-to-equity ratio that reached 1.2 times at the end of Decembe
Rating agency gives the Chilean retirement fund manager a BBB-, based on its leading position as a payroll lender