Multitude AG: Fitch affirms rating at B+ and upgrades Multitude Bank to 'BB-' as well as the standalone credit profile of the consolidated Group to ‘bb-’

Core Viewpoint - Multitude AG has received a stable outlook from Fitch Ratings, affirming its Long-Term Issuer Default Rating (IDR) at 'B+' and upgrading its standalone credit profile (SCP) to 'bb-' from 'b+' [1] Group Summary - Multitude AG is a European FinTech company providing digital lending and online banking services to consumers, small and medium-sized enterprises, and other FinTechs [2] - The company operates through three independent business units: Consumer Banking (Ferratum), SME Banking (CapitalBox), and Wholesale Banking (Multitude Bank) [2] - Multitude employs over 700 people across 25 countries and offers services in 17 countries, achieving a combined turnover of 274 million euros in 2024 [2] - The company was founded in Finland in 2005, is registered in Switzerland, and is listed on the Prime Standard segment of the Frankfurt Stock Exchange under the symbol 'MULT' [2] Rating Summary - Fitch Ratings has upgraded Multitude Bank PLC, a subsidiary of Multitude AG, to 'BB-' [1] - Multitude AG's senior unsecured notes have been affirmed at 'B+' with a Recovery Rating of 'RR4' [1] - The subordinated hybrid perpetual capital notes of Multitude AG have been rated 'B-' with a Recovery Rating of 'RR6' [1]