The affirmation is driven by Éltex Kft.’s strong operating performance and resilient credit metrics despite increasing debt and capital expenditure.

The upgrade is driven by improving credit metrics thanks to the redistribution of planned capex over a longer period and better-than-expected operating results.

The Outlook change on the Hungarian waste management services company is supported by its improved credit metrics due to the redistribution of planned capex over a longer period and better-than-expected operating results.

Éltex's credit rating is supported by its status as a top-three waste management company in Hungary and its medium- and long-term contracts, but constrained by its lack of geographical diversification, its high expected leverage and low profitability.