Announcements
Drinks

17/9/2024 Rating announcement EN
Scope affirms Tegeta Motors’ BB- issuer rating and revises the Outlook to Negative from Stable
The Outlook change reflects weakening credit metrics in 2024 and a deteriorating capital structure with increased short-term exposure to capital market debt leading to recurring maturity walls.

5/10/2022 Rating announcement EN
Scope affirms BB- issuer rating of Tegeta Motors LLC, revises Outlook to Negative from Stable
The Outlook change reflects weakened credit metrics driven by partially debt-funded capital-intensive projects and stockpiling, which outweigh the positive impact on Tegeta's business risk profile from the significant growth being pursued.

17/11/2020 Rating announcement EN
Scope confirms BB-/Stable issuer rating on Tegeta and resolves the review for possible downgrade
The rating action reflects the company's better-than-expected operating performance in the first nine months of its 2020 fiscal year, driven by a fast recovery from the coronavirus-induced shutdown of non-food retailers in Georgia.

15/5/2020 Rating announcement EN
Scope places Tegeta's BB- rating under review for possible downgrade
The rating action reflects the overall uncertainty around the impact of the coronavirus pandemic on Tegeta's 2021 results and the limited visibility regarding a return to normal retail volumes post deconfinement

22/3/2019 Rating announcement EN
Scope rates Georgian automotive and spare parts retailer Tegeta Motors LLC at BB-, Outlook Stable
The rating is driven by the group’s good financial risk profile as well as by its comparatively high operating profitability and robust domestic market shares. Constraints include low geographical diversification and the execution risk on expansion plans.