Belfast – 28 March 2016 – Social Investment Scotland (SIS), a U.K. based Community Development Financial Institution (CDFI) loan fund, has become the first responsible finance provider outside of the U.S. to receive a AAA 2 credit rating from Aeris.
SIS is one of the 29 CDFIs to achieve the highest impact rating (AAA) and one of the 47 CDFIs with second-highest financial strength and performance rating (2) in the Aeris assessment.
“In line with SIS’ continued growth and ambitions for the future, we were keen to blaze a trail for the UK’s social investment sector, by becoming the first responsible finance provider to initiate a rating. The fact that we received one of the highest ratings available is a terrific achievement of which we’re extremely proud, placing SIS in the top third of CDFIs across the world. We’ll now be looking to use this report to both stakeholders and investors to demonstrate the strength of SIS, to attract more investment, and to help raise standards and transparency across the whole of the UK’s responsible finance sector,” Alastair Davis, chief executive of SIS said in a press release by SIS.
Fern Software is proud to be the core banking system provider (Abacus) for SIS and their operations in the U.K.