ROCHELLE
PARK, N.J., July 9, 2024
/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) ("Ma'alot") has confirmed the long-term
issuer rating for Sapiens as "ilAA-", with stable outlook, while
also confirming the rating for Sapiens' Series B Debentures as
"ilAA-".
The Series B Debentures are traded on the Tel Aviv Stock
Exchange ("TASE") and were offered in Israel pursuant to Sapiens' Israeli shelf
prospectuses filed with the Israeli Securities Authority in
September 2017 and June 2020.
Mr. Roni Al-Dor, President &
CEO of Sapiens, commented: "Sapiens continues to achieve long-term
success in realizing revenue growth, increasing profitability and
generating strong cash flow. The rating confirmation reflects the
ongoing confidence of the market and experts in Sapiens. Sapiens is
well known in the market for its long-term track record of growth
in both revenue and profit.
Maalot's official rating report, in Hebrew, was submitted by
Maalot to the Israel Securities Authority and the Tel Aviv Stock
Exchange. For convenience, the English translation of Maalot's
rating report can be found by clicking here. The Company is also
submitting a report on Form 6-K that attached this press release
(with the link to the English translation of Maalot's report) 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) is a
global leader in intelligent insurance software solutions. With
Sapiens' robust platform, customer-driven partnerships, and rich
ecosystem, insurers are empowered to future-proof their
organizations with operational excellence in a rapidly changing
marketplace. We help insurers harness the power of AI and advanced
automation to support core solutions for property and casualty,
workers' compensation, and life insurance, including reinsurance,
financial & compliance, data & analytics, digital, and
decision management. Sapiens boasts a longtime global presence,
serving over 600 customers in more than 30 countries with its
innovative SaaS offerings. Recognized by industry experts and
selected for the Microsoft Top 100 Partner program, Sapiens is
committed to partnering with our customers for their entire
transformation journey and is continuously innovating to ensure
their success.
For more information visit https://sapiens.com or follow us
on LinkedIn.
Media and Investors' Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@sapeins.com
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SOURCE Sapiens International Corporation