Leonteq AG (SIX: LEON) announced today that Fitch upgraded Leonteq’s investment grade rating to “BBB” with a stable outlook.
The rating agency Fitch Ratings Ltd. has upgraded the long-term issuer default rating (IDR) to “BBB” from “BBB-” for Leonteq AG, Leonteq Securities AG and Leonteq Securities AG (Guernsey Branch) with a stable outlook.
According to Fitch, the upgrade of the long-term IDRs assigned to Leonteq reflects the material progress made to grow the franchise and diversify the business by increasing the number of issuance partners as well as increasing Leonteq’s own issuances. It also reflects progress made on new business initiatives which include plans to reduce the level of market risk adopted by Leonteq through its balance sheet-light business activities.
Leonteq’s IDR further reflects its increasingly diversified franchise which includes a well-established and scalable structured-product issuance platform. This is weighed against inherent market risk, both direct and indirect, as lower appetite for structured products in unfavourable market conditions can give rise to earnings volatility. Fitch views risk management, capitalization, and liquidity as adequate.
This press release provides excerpts from the published Fitch rating action commentary. The full commentary can be accessed here: www.fitchratings.com/research
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Leonteq
Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries across Europe, the Middle East and Asia. Leonteq AG has a BBB credit rating by Fitch Ratings, was assigned with an AA ESG rating by MSCI and is listed on the SIX Swiss Exchange (SIX: LEON).
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