The rating affirmation reflects the company’s sufficient total cost cover and the balanced financing structure with only moderate financial debt.

No action has been taken on the B+/Stable issuer rating of Hungarian investment holding company Lexholding Zrt following a monitoring review.

The rating affirmation reflects the sufficient fixed-cost coverage position. Stelius’ limited scale and certain lack of transparency remain constraints.

The ratings are primarily driven by the company's majority ownership of its core investments and high share of management fee income.