The withdrawal follows Scope’s decision to cease analytical coverage on the entity due to business reasons and insufficient information.

The rating continues to reflect BLS’ good position in the rapidly growing German bike-leasing market and strong cash generation. It also reflects challenges around increasing financing requirements and safeguarding product availability.

The rating reflects BLS’ good position in the strongly growing German bike-leasing market and its strong cash generation. It also mirrors the challenges around the increasing financing requirements and the safeguarding of product availability.