Moody's assigns B3 Senior Unsecured Rating and B2 Corporate Family Rating to World Acceptance; Outlook is Stable
Rating Action: Moody's assigns B3 Senior Unsecured Rating and B2 Corporate Family Rating to World Acceptance; Outlook is Stable. Global Credit Research- 21 Sep 2021. New York, September 21, 2021-- Moody's Investors Service has assigned a B2 Corporate Family Rating and B3 Senior Unsecured rating to World Acceptance Corporation in connection with the firm's proposed issuance of $300 million in senior unsecured notes.World Acceptance is a small-loan consumer finance company, providing short-term small installment loans, medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. The company serves individuals with limited access to other sources of consumer credit such as banks, credit unions, other consumer finance businesses and credit card lenders. The company also provides income tax return preparation services to its loan customers and other individuals. Using the proprietary data processing software package developed by its subsidiary, ParaData Financial Systems, the company automates all of its loan account processing and collection reporting.
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