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      Instrument data
      Issuer
      ITK Holding Zrt.
      Senority
      Unsecured
      Currency
      HUF
      ISIN
      HU0000360631
      Coupon percent
      2.9%
      Coupon type
      Fixed:Plain Vanilla Fixed Coupon
      Instrument volume
      20,000,000,000
      Maturity date
      23/06/2031
      -
      B+ Outlook: None
      B+ Outlook: None
      Latest change
      Downgrade
      24/05/2024
      General information
      Rating
      Public
      Unsolicited
      With issuer participation
      UK endorsed
      EU Rated
      Istvan Braun Lead analyst
      Philipp Wass Committee chair
      Scope affirms the issuer rating of ITK at BB-/Stable, resolving the under-review status

      24/5/2024 Rating announcement EN

      Scope affirms the issuer rating of ITK at BB-/Stable, resolving the under-review status

      The rating action is driven by the closer integration with MOL Group as a fully consolidated subsidiary, while credit metrics remain stressed.

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      Scope places ITK Holding’s BB- issuer rating under review for a possible upgrade

      28/11/2023 Rating announcement EN

      Scope places ITK Holding’s BB- issuer rating under review for a possible upgrade

      The rating’s placement under review reflects the recently announced change in shareholder structure, with Hungarian oil and gas company MOL Group advancing towards full control of ITK Holding.

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      Scope affirms ITK’s issuer rating of BB-, Stable Outlook

      13/4/2023 Rating announcement EN

      Scope affirms ITK’s issuer rating of BB-, Stable Outlook

      Deleveraging capacity remains, but improvement is delayed due to 2022 macroeconomic challenges and continued, high levels of investment in transportation services and newer operations as a higher value-added vehicle manufacturer and general distributor.

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      Scope rates transportation service provider and vehicle manufacturer ITK Holding Zrt. BB-/Stable

      14/4/2021 Rating announcement EN

      Scope rates transportation service provider and vehicle manufacturer ITK Holding Zrt. BB-/Stable

      The rating reflects very high leverage and risks in the new higher value-added vehicle manufacturing operations, balanced by stable transportation and business services and strong backing from the majority shareholder MOL Group.

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