Intrum's credit rating is raised to Caa2, from Ca, and has stable outlook according to Moody's. On Thursday, S&P raised its credit rating on Intrum to CCC-plus from D (paused payments). There are also stable outlooks for the rating that applies.
The rating upgrades come after Intrum on Thursday, ahead of Friday's interim report, announced that the company has completed the Chapter 11 process and received new capital.
Intrum has, under bankruptcy protection, negotiated the maturities of its debts and put in place "a write-down of 10 percent" of newly issued exchange bonds. New financing has also been raised to enable the implementation of a business plan and repurchase bonds.
"We have emerged stronger from the process", wrote CEO Andrés Rubio in a comment.
In the report for the second quarter, Intrum reports an operating result of 1.3 billion kronor, up 29 percent from a year earlier. But revenues decreased by 9 percent to 4.2 billion - partly due to currency effects, according to Intrum.
Intrum's share is trading in afternoon trading at minus 2.8 percent.
