ValueMax Receives BB Rating With Stable Outlook From Fitch
Fitch Ratings assigned ValueMax (SGX:T6I) a first-time long-term issuer default rating of BB, with a stable outlook, according to a Monday filing with the Singapore Exchange.Fitch attributed the rating to the company's established franchise, low credit losses, and sound profitability.However, Fitch has flagged concentration risk in the company's property-backed lending portfolio and asset-liability mismatches arising from its reliance on short-term funding.