Sapiens International N : S&P Global Ratings Maalot Upgrades Sapiens Series B Debentures Rating from “ilA+” with a Stable Outlook, to "ilAA-" with a Stable Outlook (Local Scale)
June 28, 2022 at 02:41 pm IST
Share
S&P Global Ratings Maalot Upgrades Sapiens Series
B Debentures Rating from "ilA+" with a Stable
Outlook, to "ilAA-" with a Stable Outlook (Local Scale)
Holon, Israel, June 28, 2022 - Sapiens International Corporation (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that Ma'alot S&P Global (a part of the global rating firm Standard & Poor's Financial Services LLC) ("S&P") upgraded the rating for its Series B Debentures from "ilA+" to "ilAA-" (on local scaling), with a stable outlook.
The debentures are traded on the Tel Aviv Stock Exchange ("TASE") and were originally offered in Israel pursuant to Sapiens' Israeli shelf prospectus and shelf offering reports filed with the Israeli Securities Authority in September 2017 and June 2020.
Mr. Roni Al-Dor, President & CEO of Sapiens, commented: "Along with achieving compound annual growth of 17% for the past decade, Sapiens has improved profitability and generated strong, consistent cash flow. The rating upgrade represents another vote of confidence in Sapiens' business model and strategy. We witness a reflection of our long-termproven track record of growth in both revenue and profit."
S&P's official rating report, in Hebrew, was submitted by S&P to the Israel Securities Authority and the TASE. For convenience, the English translation of S&P's rating report can be found by clicking here.The Company is also filling via Form 6-K to the U.S. Securities and Exchange Commission.
This announcement shall not constitute a solicitation or an offer to buy any securities.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated,low-code solutions and a cloud-first approach that
1
www.sapiens.com
accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit sapiens.comor follow us on LinkedIn.
Investor Relations Contact
Media Contact
Dina Vince
Shay Assaraf
Head of Investor Relations
Chief Marketing Officer
Dina.Vince@sapiens.com
Shay.assaraf@sapiens.com
2
www.sapiens.com
Attachments
Original Link
Original Document
Permalink
Disclaimer
Sapiens International Corporation NV published this content on 28 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2022 09:10:08 UTC.
Sapiens International Corporation N.V. (Sapiens) is a provider of software solutions for the insurance industry, with a focus on the financial services sector. The Company operates in provider of software solutions segment. Its software solutions portfolio consists of Life, Pension, Annuity and Retirement Solutions, including software solutions for the management of a range of products for life, pension, annuity and retirement; Property and Casualty/General Insurance Solutions, including a software suite of solutions, supporting a range of business lines, including personal, commercial and specialty lines, as well as a solution for the management of reinsurance contracts; Sapiens DECISION, which is a business decision management solution, and Technology-Based Solutions, such as Sapiens eMerge. Its services include project delivery and implementation, business and technical consulting related to its products, project and program management, training and user acceptance testing.
Sapiens International N : S&P Global Ratings Maalot Upgrades Sapiens Series B Debentures Rating from “ilA+” with a Stable Outlook, to "ilAA-" with a Stable Outlook (Local Scale)