Emerging Credit Rating Limited (ECRL) has affirmed an AA+B (pronounced ‘Double A Plus Bond’) long-term credit rating for IPDC Finance PLC’s (IPDC) 2nd Subordinated Bond. The rating is based on audited financials for FY2020-FY2023, unaudited H1 financial statements for FY2024 and other relevant information available up to the date of the rating. The outlook on the rating is Stable.