Market leader in European credit management services with diversified revenues, significant propriety repayment data, and a large client base. Long-term ownership structure supports a more stable business model and long-term decision making. Fairly diversified compared with its debt purchasing peers, but still narrow business focus on the wider spectrum of corporate issuers. 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 a high share of goodwill. Established banking relationships and significant available liquidity. The stable outlook on Intrum Justitia AB (publ) reflects S&P Global Ratings' expectation that higher growth in the purchased-debt portfolios, combined with steady
