Announcements

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      Instrument data
      Senority
      Senior Unsecured
      Currency
      HUF
      ISIN
      HU0000360052
      Coupon percent
      3%
      Coupon type
      Fixed
      Instrument volume
      3,480,000,000
      Maturity date
      30/10/2030
      -
      B+ Outlook: None
      B+ Outlook: None
      Latest change
      Affirmed
      20/06/2024
      General information
      Rating
      Public
      Unsolicited
      With issuer participation
      UK endorsed
      EU Rated
      Barna Szabolcs Gáspár Lead analyst
      Philipp Wass Committee chair
      Scope affirms B+/Stable rating of Pannon-Work Zrt.

      20/6/2024 Rating announcement EN

      Scope affirms B+/Stable rating of Pannon-Work Zrt.

      Growth in HR services and solar power generation as well as moderate leverage support the rating. Low profitability, moderate volatility of the temporary staffing headcount, high customer concentration and shortening debt maturity profile are constraints.

      Scope affirms B+ rating of Pannon-Work, with Stable Outlook

      3/7/2023 Rating announcement EN

      Scope affirms B+ rating of Pannon-Work, with Stable Outlook

      The rating action is driven by a growing core business, complemented by recurring revenues from HR services and solar power generation.

      Scope affirms B+/Stable issuer rating on Pannon-Work Zrt.

      25/7/2022 Rating announcement EN

      Scope affirms B+/Stable issuer rating on Pannon-Work Zrt.

      The rating action is driven by a good core business complemented by an increasing share of recurring revenue from HR services and solar power generation.

      Scope upgrades the rating of Pannon-Work Zrt. to B+/Stable

      17/8/2021 Rating announcement EN

      Scope upgrades the rating of Pannon-Work Zrt. to B+/Stable

      The rating action is driven by diversification into renewables and increasing margins despite the pandemic.

      Scope rates Pannon-Work's senior unsecured guaranteed HUF 3.48bn bond (2020/2030) at B+

      26/10/2020 Rating announcement EN

      Scope rates Pannon-Work's senior unsecured guaranteed HUF 3.48bn bond (2020/2030) at B+

      The bond is issued under the Hungarian central bank's Bond Funding for Growth Scheme.

      Scope assigns initial B/Stable rating to Pannon-Work Zrt

      14/8/2020 Rating announcement EN

      Scope assigns initial B/Stable rating to Pannon-Work Zrt

      The issuer rating reflects the company's position as the fourth largest personnel services provider in Hungary but also its concentration and dependence on the domestic labour market.

      Date Title