The credit rating remains supported by the issuer's status as a top three agricultural machinery dealer in Hungary and its good credit metrics. Its small scale and lack of geographical diversification compared to European peers constrain the rating.

The affirmation is driven by Scope’s unchanged view on EVN’s robust business footprint in various utility segments and the group’s maintenance of a very solid financial profile over the next few years.

The medium cyclicality of the road logistics market and Waberer's robust market position support the issuer rating. The ratings have been withdrawn for business reasons.

The Outlook change reflects the improved profitability despite weaker demand after the pandemic. The rating remains constrained by the execution risk of ongoing investments and the increased capex plan.

The temporary standstill agreement with all bondholders must meet certain conditions and should ensure the protection of bondholders and other stakeholders alike.

The affirmation is driven by IB Invest's continued high total cost coverage and the good liquidity of its assets. A volatile loan/value ratio and modest diversification hold the rating back.

The affirmation mainly reflects a continued strong financial risk profile as well as good prospects for growth and cash generation despite potential disruption from the Russian and Ukrainian business.

The rating affirmation reflects moderate credit metrics, including adequate debt protection and liquidity. The rating continues to be held back by the company’s small size as well as its concentrated backlog and customer portfolio.

The rating is driven by high and stable profitability, strong asset quality, and credit metrics that have remained stable throughout significant inorganic growth.

The rating affirmation reflects continued growth paired with stable debt levels. The Outlook change incorporates Scope’s view of a less aggressive financial policy.