Announcements

    Drinks

      Scope affirms ALTEO’ BBB-/Stable issuer rating

      27/5/2024 Rating announcement EN

      Scope affirms ALTEO’ BBB-/Stable issuer rating

      The affirmation reflects Scope’s view that due to growing EBITDA generation ALTEO will be able to sustain pressure on credit metrics resulting from mounting capex and growing debt level.

      Scope upgrades ALTEO’s issuer rating to BBB-/Stable from BB+, resolving the under-review status

      22/6/2023 Rating announcement EN

      Scope upgrades ALTEO’s issuer rating to BBB-/Stable from BB+, resolving the under-review status

      The upgrade is driven by ALTEO’s improved financial risk profile and bolstered by the company’s new shareholder structure that provides comfort about ALTEO’s investment-grade credit quality.

      Scope places ALTEO’s BB+ issuer rating under review for a possible upgrade

      20/12/2022 Rating announcement EN

      Scope places ALTEO’s BB+ issuer rating under review for a possible upgrade

      The rating's placement under review reflects the takeover bid for all of ALTEO’s capital by a consortium led by Hungarian oil and gas incumbent MOL Group.

      Scope affirms ALTEO’s BB+/Stable issuer rating

      4/10/2022 Rating announcement EN

      Scope affirms ALTEO’s BB+/Stable issuer rating

      The affirmation is driven by Scope’s unchanged view about ALTEO’s moderate credit profile along the company’s planned HUF 20bn bond programme, representing significant extra debt exposure.

      Scope affirms ALTEO’s BB+/Stable issuer rating

      30/6/2022 Rating announcement EN

      Scope affirms ALTEO’s BB+/Stable issuer rating

      Scope expects credit metrics to revert to levels in line with a BB+ rating. This is driven by ALTEO’s partially debt-funded investment, higher dividends and the expectation of normalised operating performance after extraordinary results in 2021-2022.

      Scope affirms BB+/Stable issuer credit rating on Hungarian utility ALTEO

      29/7/2021 Rating announcement EN

      Scope affirms BB+/Stable issuer credit rating on Hungarian utility ALTEO

      The affirmation reflects ALTEO’s growing business outreach as it implements its investment programme while keeping its financial profile commensurate with the rating.

      ALTEO’s new bond funding in line with expansion strategy and rating case

      25/8/2020 Monitoring note EN

      ALTEO’s new bond funding in line with expansion strategy and rating case

      New issuance of senior unsecured debt does not alter ALTEO’s rating case, which largely reflects debt-financed EBITDA growth over the next few years.

      Scope affirms BB+/Stable issuer credit rating of Hungary-based utility ALTEO Energiaszolgáltató Nyrt

      29/7/2020 Rating announcement EN

      Scope affirms BB+/Stable issuer credit rating of Hungary-based utility ALTEO Energiaszolgáltató Nyrt

      The affirmation is driven by the robust cash flow stemming from the balanced mix of regulated and unregulated activities. The execution of the updated investment programme is also unlikely to significantly burden indebtedness and interest coverage.

      Scope assigns initial BB+/Stable/S-3 issuer rating to ALTEO and BBB- to senior unsecured debt

      7/8/2019 Rating announcement EN

      Scope assigns initial BB+/Stable/S-3 issuer rating to ALTEO and BBB- to senior unsecured debt

      The rating is supported by increasing cash flows from regulated power generation, the quasi-monopolistic position in heat, and comfortable level of interest coverage. Leverage is expected to decline gradually following the heavy investment phase.