European rating agency. Objective, transparent, independent.
European rating agency. Objective, transparent, independent.

HFS Helvetic Financial Services AG

Rating History

Rating Watch Outlook Decision Date Action Validity Date Maximum Validity
BBB Outlook NEG 12.12.2019 18.12.2019
BBB+ Outlook NEG 13.12.2018 19.12.2018

News

  • 18.12.2019
    Creditreform Rating downgrades its unsolicited corporate issuer rating of HFS Helvetic Financial Services AG (HFS) from BBB+ to BBB. Despite the interim balance sheet changes in the course of the sale of HFS to CORESTATE Capital Holding S.A. (CORESTATE), the rating of HFS is founded largely on strong fundamental data. The development during the year of 2019 confirms the trend. Due to group and financial relations, we still consider the independence of HFS within the CORESTATE Group to be questionable. As our financial key data analysis shows worse results for the CORESTATE Group compared to HFS, the one-year outlook for the unsolicited corporate issuer rating of HFS will remain negative.
  • 19.12.2018
    Creditreform Rating yesterday set its unsolicited corporate issuer rating of HFS Helvetic Financial Services AG (HFS) unchanged at BBB+. The result is derived from HFS Helvetic Financial Services AG in accordance with the corresponding rating methodology of Creditreform Rating AG. Despite the interim balance sheet changes in the course of the sale to CORESTATE Capital Holding S.A. (CORESTATE), the stable rating of HFS is founded largely on strong fundamental data. The development during the year of 2018 confirms the trend. The one-year outlook for HFS's unsolicited corporate issuer rating is negative. At least due to the existence of financial ties in the CORESTATE Group, we currently consider the independence of HFS within the CORESTATE Group to be questionable. As our financial key data analysis shows worse results for the CORESTATE Group, the outlook is set negative.