Announcements

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      Instrument data
      Issuer
      Senority
      Unsecured
      Currency
      HUF
      ISIN
      HU0000359252
      Coupon percent
      3.15%
      Coupon type
      Fixed:Plain Vanilla Fixed Coupon
      Instrument volume
      9,300,000,000
      Maturity date
      28/10/2029
      -
      BBB- Outlook: None
      BBB- Outlook: None
      Latest change
      Affirmed
      27/05/2024
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Kamila Bernadeta Hoppe Lead analyst
      Philipp Wass Committee chair
      Scope affirms ALTEO’ BBB-/Stable issuer rating

      27/5/2024 Rating announcement EN

      Scope affirms ALTEO’ BBB-/Stable issuer rating

      The affirmation reflects Scope’s view that due to growing EBITDA generation ALTEO will be able to sustain pressure on credit metrics resulting from mounting capex and growing debt level.

      Scope upgrades ALTEO’s issuer rating to BBB-/Stable from BB+, resolving the under-review status

      22/6/2023 Rating announcement EN

      Scope upgrades ALTEO’s issuer rating to BBB-/Stable from BB+, resolving the under-review status

      The upgrade is driven by ALTEO’s improved financial risk profile and bolstered by the company’s new shareholder structure that provides comfort about ALTEO’s investment-grade credit quality.

      Scope places ALTEO’s BB+ issuer rating under review for a possible upgrade

      20/12/2022 Rating announcement EN

      Scope places ALTEO’s BB+ issuer rating under review for a possible upgrade

      The rating's placement under review reflects the takeover bid for all of ALTEO’s capital by a consortium led by Hungarian oil and gas incumbent MOL Group.

      Scope affirms ALTEO’s BB+/Stable issuer rating

      4/10/2022 Rating announcement EN

      Scope affirms ALTEO’s BB+/Stable issuer rating

      The affirmation is driven by Scope’s unchanged view about ALTEO’s moderate credit profile along the company’s planned HUF 20bn bond programme, representing significant extra debt exposure.

      Scope affirms ALTEO’s BB+/Stable issuer rating

      30/6/2022 Rating announcement EN

      Scope affirms ALTEO’s BB+/Stable issuer rating

      Scope expects credit metrics to revert to levels in line with a BB+ rating. This is driven by ALTEO’s partially debt-funded investment, higher dividends and the expectation of normalised operating performance after extraordinary results in 2021-2022.

      Scope affirms BB+/Stable issuer credit rating on Hungarian utility ALTEO

      29/7/2021 Rating announcement EN

      Scope affirms BB+/Stable issuer credit rating on Hungarian utility ALTEO

      The affirmation reflects ALTEO’s growing business outreach as it implements its investment programme while keeping its financial profile commensurate with the rating.

      Scope affirms BB+/Stable issuer credit rating of Hungary-based utility ALTEO Energiaszolgáltató Nyrt

      29/7/2020 Rating announcement EN

      Scope affirms BB+/Stable issuer credit rating of Hungary-based utility ALTEO Energiaszolgáltató Nyrt

      The affirmation is driven by the robust cash flow stemming from the balanced mix of regulated and unregulated activities. The execution of the updated investment programme is also unlikely to significantly burden indebtedness and interest coverage.

      Scope assigns initial BB+/Stable/S-3 issuer rating to ALTEO and BBB- to senior unsecured debt

      7/8/2019 Rating announcement EN

      Scope assigns initial BB+/Stable/S-3 issuer rating to ALTEO and BBB- to senior unsecured debt

      The rating is supported by increasing cash flows from regulated power generation, the quasi-monopolistic position in heat, and comfortable level of interest coverage. Leverage is expected to decline gradually following the heavy investment phase.

      Date Title