Announcements

    Drinks

      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.

      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.

      Updated analytical report on Wingholding Zrt

      6/2/2023 Monitoring note EN

      Updated analytical report on Wingholding Zrt

      Following the recent affirmation of the B+/Stable issuer rating, Scope has updated its analytical report on Wingholding Zrt.

      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.

      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-.

      No impact on Wingholding's B+/Positive rating from planned bond placement

      16/9/2021 Monitoring note EN

      No impact on Wingholding's B+/Positive rating from planned bond placement

      Wingholding Zrt. has detailed its plans to issue senior unsecured bonds in a total volume of up to HUF 27.5bn

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

      3/8/2021 Rating announcement EN

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

      The Outlook change reflects the lower leverage expectations and increasing visibility of revenues. Senior unsecured debt has been affirmed at BB-.

      No impact on Wingholding's B+/Stable rating after successful closing of transactions

      29/4/2021 Monitoring note EN

      No impact on Wingholding's B+/Stable rating after successful closing of transactions

      Following a monitoring review of Hungarian real estate group Wingholding Zrt., Scope takes no action regarding the issuer rating of B+/Stable. The instrument rating of BB- for senior unsecured debt also remains unchanged.

      Scope downgrades issuer rating of Wingholding Zrt. to B+/Stable from BB/Stable

      6/5/2020 Rating announcement EN

      Scope downgrades issuer rating of Wingholding Zrt. to B+/Stable from BB/Stable

      The downgrade follows the company's acquisition of Poland-based real estate company Echo Investment amid further plans to expand. Senior unsecured debt has also been downgraded to BB- from BBB-.

      Scope Ratings assigns first-time issuer rating of BB to Wingholding Zrt.

      27/8/2019 Rating announcement EN

      Scope Ratings assigns first-time issuer rating of BB to Wingholding Zrt.

      Scope assigns new BB issuer rating to Hungarian Wingholding Zrt. and BBB- senior unsecured debt rating.