HOLON, Israel, June 28,
2022 /PRNewswire/ -- Sapiens International
Corporation (NASDAQ: SPNS) (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-term proven 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 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.com or follow us
on LinkedIn.
Investor Relations
Contact
Dina Vince
Head of Investor Relations Dina.Vince@sapiens.com
|
Media
Contact
Shay Assaraf
Chief Marketing Officer Shay.assaraf@sapiens.com
|
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SOURCE Sapiens International Corporation