EQS Group-Ad-hoc: Leonteq AG / Key word(s): Rating
Leonteq AG: Fitch affirms Leonteqs investment grade rating
25-Nov-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
*PRESS RELEASE* | FITCH AFFIRMS LEONTEQ'S INVESTMENT GRADE RATING
Zurich, 25 November 2020
*Leonteq AG (SIX: LEON) announced today that Fitch affirms Leonteq's
investment grade rating at "BBB-" with a Stable outlook.*
The rating agency Fitch Ratings Ltd. has affirmed the long-term issuer
default rating (IDR) of "BBB-" for Leonteq AG, Leonteq Securities AG and
Leonteq Securities AG (Guernsey Branch) with a Stable outlook.
According to Fitch, the affirmation of the long-term IDRs assigned to
Leonteq reflect its adequate and improving capitalisation, moderate and
well-managed credit risk exposure, sound risk management systems, solid
liquidity management as well as its sophisticated and scalable structured
products issuance platform. Fitch additionally states that the IDRs also
reflect Leonteq's narrow but well-developing franchise, some earnings
volatility as evidenced during the initial stages of the pandemic-related
market volatility and exposure to concentration risk (albeit decreasing), in
particular with regard to a fairly small number of structured product
issuance partners.
The Stable outlook reflects Fitch's expectation that Leonteq's performance
in 2021 will revert to (or close to) prepandemic levels and that management
will make further progress in executing its medium-term strategy, in
particular increasing operational scale and further improving business
diversification, increasing volumes on its recently introduced Smart Hedging
Issuance Platform (SHIP), which will improve capital efficiency, and further
strengthening of the group's capitalisation.
Further information can be found at: www.fitchratings.com [1].
CONTACT
*Media Relations *
+41 58 800 1844
media@leonteq.com
*Investor Relations *
+41 58 800 1855
investorrelations@leonteq.com
LEONTEQ
Leonteq is a Swiss company active in the finance and technology sector with
a focus on the structured products segment. 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 to produce capital-efficient,
unit-linked pension products with guarantees. The company has offices and
subsidiaries in 11 countries, through which it serves over 50 markets.
Leonteq AG is listed on the SIX Swiss Exchange.
*www.leonteq.com*
DISCLAIMER
This press release issued by Leonteq AG (the "Company") serves for
information purposes only and does not constitute research. This press
release and all materials, documents and information used therein or
distributed in the context of this press release do not constitute or form
part of and should not be construed as, an offer (public or private) to sell
or a solicitation of offers (public or private) to purchase or subscribe for
shares or other securities of the Company or any of its affiliates or
subsidiaries in any jurisdiction or an inducement to enter into investment
activity in any jurisdiction, and may not be used for such purposes. Copies
of this press release may not be made available (directly or indirectly) to
any person in relation to whom the making available of the press release is
restricted or prohibited by law or sent to countries, or distributed in or
from countries, to, in or from which this is restricted or prohibited by
law.
This press release may contain specific forward-looking statements, e.g.
statements including terms like "believe", "assume", "expect", "target"
"forecast", "project", "may", "could", "might", "will" or similar
expressions. Such forward-looking statements are subject to known and
unknown risks, uncertainties and other factors which may result in a
substantial divergence between the actual results, financial situation,
development or performance of the Company or any of its affiliates or
subsidiaries and those explicitly or implicitly presumed in these
statements. These factors include, but are not limited to: (1) general
market, macroeconomic, governmental and regulatory trends, (2) movements in
securities markets, exchange rates and interest rates and (3) other risks
and uncertainties inherent in our business. In addition, currently, it is
very difficult to provide a meaningful prediction on how the governmental
actions in response to the ongoing outbreak of a novel coronavirus disease
(COVID-19) and other COVID-19 related factors will affect Leonteq's
operations and how long such measures will remain in place. The COVID-19
outbreak has caused, and may continue to cause, uncertainty, economic
instability and a significant decrease of total economic output in the
affected areas and globally. The impact of the COVID-19 outbreak on the
general economic environment in the markets in which Leonteq operates remain
uncertain and could be significant. Against the background of these
uncertainties, you should not rely on forward-looking statements. Neither
the Company nor any of its affiliates or subsidiaries or their respective
bodies, executives, employees and advisers assume any responsibility to
prepare or disseminate any supplement, amendment, update or revision to any
of the information, opinions or forward-looking statements contained in this
press release or to adapt them to any change in events, conditions or
circumstances, except as required by applicable law or regulation.
End of ad hoc announcement
1150278 25-Nov-2020 CET/CEST
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ebe94549d207313c03a1ee7d4340e189&application_id=1150278&site_id=vwd&application_name=news
(END) Dow Jones Newswires
November 25, 2020 01:00 ET (06:00 GMT)