January 28 (SeeNews) - Global rating agency Standard & Poor's (S&P) on Monday said it has raised its long- and short-term counterparty credit ratings on Bulgarian consumer credit company JetFinance International to 'BBB-/A-3' from 'B+/B'as the outlook remained stable. The upgrade follows the completion in November 2007 of the acquisition of JetFinance by BNP Paribas through its consumer finance subsidiary, Cetelem. Before the deal, JetFinance International was majority owned by U.S. AIG Investments through the AIG -New Europe Fund, a fund sponsored by AIG Capital Partners, Inc. “JetFinance is now part of the new BNP Paribas Personal Finance business and the vehicle through which Cetelem's consumer credit and mortgages business operates within Bulgaria," Standard & Poor's credit analyst Jerome Chui said in a statement.
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