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      Instrument data
      Issuer
      WINGHOLDING Zrt.
      Senority
      Senior Unsecured
      Currency
      EUR
      ISIN
      HU0000361795
      Coupon percent
      5%
      Coupon type
      Fixed
      Instrument volume
      50,000,000
      Maturity date
      11/07/2025
      -
      B+ Outlook: None
      B+ Outlook: None
      Latest change
      Affirmed
      05/07/2024
      General information
      Rating
      Public
      Unsolicited
      With issuer participation
      UK endorsed
      EU Rated
      Fayçal Abdellouche Lead analyst
      Philipp Wass Committee chair
      Scope affirms B+/Negative issuer rating on Wingholding Zrt.

      5/7/2024 Rating announcement EN

      Scope affirms B+/Negative issuer rating on Wingholding Zrt.

      The affirmation reflects Wing’s successful pipeline execution and refinancing of the 2024 bond maturities. The Negative Outlook continues to reflect the limited headroom left by current credit metrics.

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      Scope affirms B+ issuer rating of Wingholding Zrt. and revises the Outlook to Negative

      27/12/2023 Rating announcement EN

      Scope affirms B+ issuer rating of Wingholding Zrt. and revises the Outlook to Negative

      The Outlook change reflects the increasing leverage and declining interest cover amid an unsupportive business environment for real estate developers. Current credit metrics leave limited headroom to offset earnings volatility.

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      Scope affirms B+/Stable issuer rating on Wingholding Zrt

      31/1/2023 Rating announcement EN

      Scope affirms B+/Stable issuer rating on Wingholding Zrt

      The rating affirmation reflects the issuer’s strong market position, balanced development pipeline, and sound liquidity amid the unfavourable environment for real estate developers.

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      Scope affirms B+ rating on Wingholding Zrt. and revises Outlook to Stable from Positive

      27/1/2022 Rating announcement EN

      Scope affirms B+ rating on Wingholding Zrt. and revises Outlook to Stable from Positive

      The rating affirmation reflects robust market conditions, whereas the Outlook revision follows an update to Scope's real estate ratings methodology and rising interest rates. Senior unsecured debt ratings have been lowered to B+ from BB-.

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