The Outlook change reflects the current pressure on operating profitability from the weakening end-market demand, while credit metrics remain sustained at a strong level, indicating the resilience of the financial risk profile.

The improved Outlook reflects the good results in 2022 and the low leverage. The rating is still held back by the company's small size and weak diversification.

Scope Ratings has downgraded corporate issuer rating of Hungary-based Tranzit Food Kft. from BB to BB-/Stable. The agency has also downgraded its senior unsecured debt rating to BB-.

The credit rating mainly reflects Tranzit’s leading market position in the Hungarian goose processing industry, solid profitability and manageable leverage. The rating is held back by the company's small size and rather weak diversification.