The affirmation reflects a relatively robust yet concentrated backlog and weak credit metrics, including adequate debt protection and liquidity. The rating is constrained by the company’s small size and limited diversification.

The rating affirmation reflects the company’s robust financial performance in 2022. The rating is held back by the company’s small size, weaker profitability as well as its concentrated backlog and customer portfolio.

The rating affirmation reflects moderate credit metrics, including adequate debt protection and liquidity. The rating continues to be held back by the company’s small size as well as its concentrated backlog and customer portfolio.

The rating affirmation reflects DVM’s sound financial performance in 2020, despite the pandemic. The rating continues to be held back by the company's small size as well as its concentrated backlog and customer portfolio.

The rating is supported by the company's good domestic network and its vertically integrated business model. The company's small size as well as the concentrated backlog and customer portfolio are the main constraints.