TORONTO (S&P Global Ratings) Nov. 4, 2026--S&P Global Ratings today assigned its'B'issue rating to Enova International Inc.'s proposed $600 million senior unsecured notes due 2031. We expect the transaction to be leverage neutral as the company will redeem the existing $400 million unsecured notes due 2028 and use the remaining proceeds to partially pay down $159 million of debt outstanding on its revolving credit facility. We favorably view the company prudently refinancing its high-cost 11.25% unsecured notes due 2028 with the lower cost of capital unsecured notes because this will reduce interest expense and improve profitability, all else equal. Pro forma, the company is modestly increasing its unsecured funding mix to 20% (versus 17% as of Sept. 30),
