17/10/2023 Rating announcement EN
Scope affirms B issuer rating on GOPD Nyrt, changes Outlook to Negative
Additional contracted debt and increased development costs are causing a significant deterioration of the financial risk profile, whereas pre-sales providing a backlog of above one year supports the rating.
25/10/2022 Rating announcement EN
Scope affirms B/Stable issuer rating on Hungarian real estate developer GOPD Nyrt.
The ratings are primarily driven by the dependence on subsidiary SunDell Estate Nyrt. The moderate leverage benefits the rating while the lack of recurring revenues and the concentrated project pipeline are constraints.
3/12/2021 Rating announcement EN
Scope rates GOPD Nyrt's senior unsecured guaranteed HUF 5.0bn bond (2021/2031) at B+
80% of the bond notional is guaranteed by the Hungarian Development Bank MFB.
3/11/2021 Rating announcement EN
Scope assigns B/Stable issuer rating to Hungarian real estate developer GOPD Nyrt.
The ratings are primarily driven by the company’s dependence on its subsidiary, SunDell Estate Nyrt., and its moderate leverage. The lack of recurring revenues and the concentrated project pipeline are rating constraints.