22/6/2022 Rating announcement EN
Scope affirms the issuer rating of SunDell Estate Nyrt. at B/Stable.
Strong performance in 2021, a significantly increased project pipeline supported by recent equity issuance in 2022 of HUF 9bn and a HUF 5.5bn green bond issued in 2021 support the affirmation in a challenging environment.
28/6/2021 Rating announcement EN
Scope affirms B/Stable issuer rating for SunDell Estate Nyrt.
Scope Ratings affirms the B/Stable issuer rating as well as the senior unsecured debt rating for SunDell Estate Nyrt. after receiving updated company planning that includes a contemplated placement of a HUF 5bn senior unsecured green bond.
21/5/2021 Monitoring note EN
No impact on SunDell Estate's B/Stable rating from 2020 annual results and recent acquisition
Following a monitoring review of Hungarian real estate developer SunDell Estate Nyrt., Scope takes no action regarding the issuer rating of B/Stable. The instrument rating of B+ for senior unsecured debt also remains unchanged.
30/10/2020 Rating announcement EN
Scope assigns B/Stable issuer rating for Hungarian real estate developer SunDell Estate Nyrt.
The ratings are primarily driven by the company's moderate leverage but constrained by a lack of recurring revenues and a concentrated project pipeline.