S&P Global Ratings Maalot Upgrades Sapiens Series B Debentures Rating from "ilA+" with a Stable Outlook, to "ilAA-" with a Stable Outlook (Local Scale)
Sapiens International Corporation (NASDAQ: SPNS) announced an upgrade of its Series B Debentures rating from "ilA+" to "ilAA-" by Ma'alot S&P Global, reflecting a stable outlook.
Sentiment and the balance of points
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Rhea-AI Summary
Sapiens International Corporation (NASDAQ: SPNS) announced an upgrade of its Series B Debentures rating from "ilA+" to "ilAA-" by Ma'alot S&P Global, reflecting a stable outlook. This upgrade signifies confidence in Sapiens' business model and long-term growth strategy. With a compound annual growth rate of 17% over the past decade, the company has consistently improved profitability and cash flow. The debentures, traded on the Tel Aviv Stock Exchange, were initially offered in September 2017 and June 2020.
Positive
- Series B Debentures rating upgraded from 'ilA+' to 'ilAA-' indicating stronger creditworthiness.
- Achieved a compound annual growth rate of 17% over the past decade.
Negative
- None.
Details
News Market Reaction – SPNS
The recorded move for SPNS in the trading session of this news was -1.18%.
Data tracked by StockTitan Argus. Session date unavailable.
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HOLON, Israel, June 28, 2022 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that Ma'alot S&P Global (a part of the global rating firm Standard & Poor's Financial Services LLC) ("S&P") upgraded the rating for its Series B Debentures from "ilA+" to "ilAA-" (on local scaling), with a stable outlook.
The debentures are traded on the Tel Aviv Stock Exchange ("TASE") and were originally offered in Israel pursuant to Sapiens' Israeli shelf prospectus and shelf offering reports filed with the Israeli Securities Authority in September 2017 and June 2020.
Mr. Roni Al-Dor, President & CEO of Sapiens, commented: "Along with achieving compound annual growth of
S&P's official rating report, in Hebrew, was submitted by S&P to the Israel Securities Authority and the TASE. For convenience, the English translation of S&P's rating report can be found by clicking here.The Company is also filling via Form 6-K to the U.S. Securities and Exchange Commission.
This announcement shall not constitute a solicitation or an offer to buy any securities.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit sapiens.com or follow us on LinkedIn.
Investor Relations Contact Dina Vince |
Media Contact Shay Assaraf |
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SOURCE Sapiens International Corporation
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