Announcements

    Drinks

      Scope affirms B+/Stable issuer rating of Appeninn

      5/4/2024 Rating announcement EN

      Scope affirms B+/Stable issuer rating of Appeninn

      The rating affirmation reflects the successful integration of recently acquired properties and solid operating performance, which has allowed credit metrics to stand well within Scope’s rating guidance.

      Scope upgrades issuer rating of Appeninn to B+/Stable from B under review for possible downgrade

      5/4/2023 Rating announcement EN

      Scope upgrades issuer rating of Appeninn to B+/Stable from B under review for possible downgrade

      The rating upgrade is driven by the recent acquisitions done by cash on the balance sheet and a conservative debt uptake, which significantly improve the company’s financial risk profile.

      Scope places B rating of Appeninn Holding Nyrt under review for possible downgrade

      2/3/2023 Rating announcement EN

      Scope places B rating of Appeninn Holding Nyrt under review for possible downgrade

      The rating action is driven by the possibility of a default of one of the issuer’s outstanding bonds in April 2023.

      Scope has completed a monitoring review for Appeninn Holding Nyrt

      2/3/2022 Monitoring note EN

      Scope has completed a monitoring review for Appeninn Holding Nyrt

      Appeninn has been executing its strategy of disposing of non-core CRE and developing its tourism exposure while flattening its maturity profile through refinancing.

      Scope places Appeninn Holding’s B+ rating under review for possible downgrade

      2/10/2020 Rating announcement EN

      Scope places Appeninn Holding’s B+ rating under review for possible downgrade

      The rating action reflects increased credit risks in light of the change in management and strategy, including the exposure to development risks.

      Scope assigns a first-time issuer rating of B+ to Appeninn Holding Nyrt., Outlook Stable

      1/10/2019 Rating announcement EN

      Scope assigns a first-time issuer rating of B+ to Appeninn Holding Nyrt., Outlook Stable

      The issuer rating is driven by the company’s relatively strong credit metrics, exposure to Budapest and low vacancy rates. Constraints include weak diversification, high tenant concentration and a short WAULT providing limited visibility.