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.

The affirmation is driven by a resilient business model with above-average profitability and a healthy backlog of more than two years.

The affirmation is driven by the resilient business model with above-average profitability and the rental income that diversifies and stabilises cash flows.

The affirmation is driven by the resilient business model with above-average profitability and the increased contract backlog that has strengthened credit metrics.

The rating is driven by the company's strong credit metrics and above-average profitability. Constraints include the issuer's weak diversification as well as the concentrated backlog.