Announcements

    Drinks

      Scope downgrades MetMax to B- and revises Outlook to Negative from Stable

      7/11/2024 Rating announcement EN

      Scope downgrades MetMax to B- and revises Outlook to Negative from Stable

      The downgrade is driven by Scope’s revised EBITDA expectation for 2024-25 and the inadequate liquidity assessment. The negative outlook reflects the risk of an accelerated repayment of the bonds unless a waiver is obtained.

      Scope affirms BB-/Stable issuer rating of ÉPKAR Zrt.

      7/11/2024 Rating announcement EN

      Scope affirms BB-/Stable issuer rating of ÉPKAR Zrt.

      The affirmation reflects ÉPKAR’s ability to sustain solid profitability and maintain a strong financial position, supported by a healthy order backlog and limited financing needs.

      Scope affirms the BB-/Stable issuer rating on Éltex Kft.

      7/11/2024 Rating announcement EN

      Scope affirms the BB-/Stable issuer rating on Éltex Kft.

      The affirmation is driven by the good financial risk profile, despite increased pressure on operating profitability due to lower demand and higher operating costs.

      Scope affirms Aranynektár’s issuer rating at B/Stable

      5/11/2024 Rating announcement EN

      Scope affirms Aranynektár’s issuer rating at B/Stable

      Strengths are strong debt protection, good leverage and resilient business operations. Constraints are size, customer diversification, the focus on a single product category and as a result volatile credit metrics.

      Scope affirms LR Group’s BB- issuer rating; changes Outlook to Negative

      4/11/2024 Rating announcement EN

      Scope affirms LR Group’s BB- issuer rating; changes Outlook to Negative

      The change in Outlook reflects the increased interest burden along with broadly flat profitability expected for 2024 given the challenging environment.

      Scope affirms A/Stable issuer rating on DNV

      1/11/2024 Rating announcement EN

      Scope affirms A/Stable issuer rating on DNV

      A globally leading position in maritime classification and services, coupled with robust cash generation and low leverage supports the rating. Profitability pressures and dependence on the largest service lines are constraints.

      Scope upgrades Vajda-Papír’s issuer rating to B+ from B; Outlook remains Stable

      1/11/2024 Rating announcement EN

      Scope upgrades Vajda-Papír’s issuer rating to B+ from B; Outlook remains Stable

      The upgrade is supported firstly by better-than-expected operating performance, leading to improved credit metrics as input prices normalise, and secondly by debt reduction as Vajda-Papír consolidates its sister company, Vajda-Papír Scandinavia AS.

      Scope affirms S-1 short-term debt rating on Axpo Holding and financing subsidiary Axpo International

      28/10/2024 Rating announcement EN

      Scope affirms S-1 short-term debt rating on Axpo Holding and financing subsidiary Axpo International

      The short-term debt rating is based on the high credit quality of the issuers which remains driven by a solid business risk profile, a strong financial risk profile and Axpo’s status as a government-related entity, paired with a robust liquidity profile.

      Scope affirms B- issuer rating on Wellis and assigns Stable Outlook

      25/10/2024 Rating announcement EN

      Scope affirms B- issuer rating on Wellis and assigns Stable Outlook

      The affirmation reflects the successful debt restructuring, which has reduced short-term liquidity concerns in addition to the improving operating profitability, despite the current sluggish global demand.

      Scope affirms A- rating of Haugaland Kraft, revises Outlook to Negative

      24/10/2024 Rating announcement EN

      Scope affirms A- rating of Haugaland Kraft, revises Outlook to Negative

      The rating action reflects higher-than-expected investments in 2024 and more moderate power prices, which are exerting downward pressure on the financial risk profile amid Haugaland Kraft's further growth ambitions.