Following the affirmation of the BB/Stable issuer rating on 15 August 2024, Scope has released an associated analytical report on Pick Szeged Zrt.

The rating continues to reflect Bonafarm’s moderate business risk and financial risk profiles, despite increasing leverage. Pick Szeged’s rating continues to be based on the unconditional and irrevocable guarantee of its parent Bonafarm.

The ratings are based on the parent’s rating as Bonafarm Zrt. fully owns, consolidates and unconditionally and irrevocably guarantees Pick Szeged Zrt.

The rating is based on the unconditional and irrevocable guarantee by the parent Bonafarm Zrt.

The rating for Pick Szeged is based on the unconditional and irrevocable guarantee by the parent Bonafarm.

Improved growth, supported by strong positioning, support the rating, but with continued vulnerability to price swings. The large, planned capex programme has been delayed due to the revision of overall investment planning.

Scope Ratings has today assigned first-time issuer ratings of BB- to Pick Szeged Zrt. with a Stable outlook.