The outlook change follows the expectation that new debt-financed acquisitions will drive higher leverage and lower debt protection in the medium term.

The Outlook change reflects the expectation of increasing profitability and diversification accompanied by low leverage.

A solid market position in Hungary and regional presence continue to support the rating. Weak credit metrics, generally low profitability in the automotive retail sector and low product diversification are constraints.

The market position and regional presence continue to support the rating. Weak credit metrics, low profitability and low product diversification are constraints. The Outlook change reflects the shift in financial policy.

Market position and regional presence continue to support the rating. Weak credit metrics, low profitability and low product diversification are constraints. The Outlook change reflects improvements in market position and anticipated lower SaD/EBITDA.

Market positioning and regional presence support the rating. The relatively high net leverage, low profitability and low product diversification are constraints.