The Outlook change reflects Scope’s expectations of improving transparency on long-term MOHU subcontractor status and audited consolidated accounts, while maintaining a strong financial risk profile.

The upgrade is based on its improved financial risk profile amidst tough economic conditions and the well-integrated acquisition of Eltex Kft., although the limited size is still a rating constraint.

The rating is based on the Hungarian municipal waste management company’s issuer rating of B+/Stable and the guaranteed nature of the senior unsecured bond.