General Capital (GEN) Subsidiary Credit Rating Update

Tuesday 17th December 2024

General Capital Limited is pleased to announce that global credit rating agency Equifax Australasia Credit Rating Pty Ltd (Equifax) has reaffirmed the financial strength rating of General Capital’s 100%-owned subsidiary, General Finance Limited, at BB with a stable outlook. This follows a review of its six-monthly audited accounts as of 30 September 2024.

The rating reflects General Finance’s increased scale, healthy earnings, and sound capital and funding profile.

General Capital’s Chairman, Rewi Bugo, welcomed the confirmation from Equifax, stating that this outcome recognizes General Finance’s continued growth in assets and earnings despite the challenging macroeconomic environment.

“This acknowledges that General Finance is in a strong position to continue delivering on our strategy to achieve long-term growth and is well-positioned to navigate the challenges and opportunities presented by the Deposit Takers Act and the Deposit Takers Compensation Scheme,” said Mr. Bugo.

Mr. Brent King, Managing Director, added, “We continue to notice that investors are increasingly considering credit ratings when making investment decisions in Secured Term Deposits. In the current market, sound credit ratings are a critical part of a prudent investor’s decision-making process.”

ENDS

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