Market leader in European credit management services with diversified revenues, significant propriety repayment data, and a large client base. Long-term ownership structure supports more stable business model and rational decision making. Relatively strong financial risk profile, liquidity, and profitability compared with peers. Faces potential regulatory risks, but has a track record of overcoming regulatory changes in its primary markets and demonstrated ability to adapt its business. History of strong financial metrics and interest coverage ratios due to low funding costs. Conservative and long-term approach to leverage and the amortization of purchased-debt portfolio acquisitions. Relatively weak tangible equity metrics given high share of goodwill. Established banking relationships and significant available liquidity. The stable outlook on Intrum Justitia AB (publ) reflects Standard
