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<IPO>Fitch: FWD (01828.HK)&#39;s IPO Viewed as Credit Positive

The official listing of FWD (01828.HK) on the Main Board of Hong Kong Stock Exchange today is expe...

The official listing of FWD (01828.HK) on the Main Board of Hong Kong Stock Exchange today is expected to reduce its financial leverage, improve financial flexibility and result in a more balanced capital structure, Rating agency Fitch said.

Therefore, Fitch assigned a long-term Issuer Default Rating of ‘BBB+’ with a Stable outlook.

Fitch expected the Group's consolidated financial leverage ratio (25% at the end of 2024) to decline if the IPO proceeds are used, in part or in full, to redeem existing debt instruments. A reduction in debt would also lower interest expenses, thereby contributing to a higher net profit.
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