Ratings Assigned to Fundusz Pomerania

Capital Intelligence Ratings (CI Ratings or CI) has assigned to Fundusz Pomerania Sp. z o.o. (Pomerania or the Fund) first-time Long- and Short-Term Ratings on the Poland National Scale of ‘plA+’ and ‘plA1’, respectively, with a Stable Outlook.

The Fund’s rating reflects strong financial resilience, anchored by a highly liquid asset base, with one-third of guarantees backed by cash or equivalents, and a net guarantee leverage ratio (NGLR) that indicates nearly full coverage of guarantees directly on the Fund’s risk by equity and reserves. Stable income streams from management fees and guarantee commissions, combined with a low historical loss ratio and robust recovery performance, enhance its credit profile. However, reliance on external re-guarantee arrangements and government funding exposes the Fund to material funding risk. Additionally, substantial exposure to economically sensitive SMEs heightens vulnerability to adverse market conditions, while sensitivity to…