The Outlook change reflects the current pressure on credit metrics and the significant increase in short-term debt which has resulted in inadequate liquidity.

The credit rating remains supported by the issuer's status as a top three agricultural machinery dealer in Hungary and its good credit metrics.

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 application of Scope’s new rating methodology has led to a stronger business risk profile assessment for AXIÁL and the rating upgrade.

The rating action follows the publication of Scope’s new Rating Methodology: Retail and Wholesale Corporates.

AXIÁL's credit rating is supported by its status as a top-three agricultural machinery dealer in Hungary and its good credit metrics, but constrained by its small scale and lack of geographical diversification compared to European peers.