Announcements

    Drinks

      Scope affirms BB/Stable issuer rating on Hörmann Industries GmbH

      28/3/2024 Rating announcement EN

      Scope affirms BB/Stable issuer rating on Hörmann Industries GmbH

      A good financial risk profile, a diversified product portfolio and the good market position of Funkwerk support the rating. Low profitability, a weak position in automotive, the customer and end-market concentration and volatile FOCF are constraints.

      Scope downgrades Nitrogenmuvek to B from BB-, places it under review for possible downgrade

      27/3/2024 Rating announcement EN

      Scope downgrades Nitrogenmuvek to B from BB-, places it under review for possible downgrade

      The action follows rapid credit metric deterioration amid operational disruptions and concerns about refinancing a EUR 200m bond in May 2025. The under-review status signals further short-term rating pressure due to potential liquidity constraints.

      Scope affirms BB-/Stable issuer rating of Infogroup Holding Kft.

      25/3/2024 Rating announcement EN

      Scope affirms BB-/Stable issuer rating of Infogroup Holding Kft.

      The rating affirmation is based on the expectation that strong operating performance will offset temporary pressure on leverage and interest cover, both driven by debt financed development activity.

      Scope affirms Opus Tigáz’s BBB- issuer rating and revises the Outlook to Positive from Stable

      25/3/2024 Rating announcement EN

      Scope affirms Opus Tigáz’s BBB- issuer rating and revises the Outlook to Positive from Stable

      The revised Outlook reflects Scope's view that the leverage could support a higher rating, driven by tariff increases, lower costs for grid losses and cash-funded bond amortisation. Still, this is subject to the final shape of the new regulatory period.

      Scope assigns SD to IB Invest; reinstates C rating and places it under review for possible upgrade

      22/3/2024 Rating announcement EN

      Scope assigns SD to IB Invest; reinstates C rating and places it under review for possible upgrade

      Scope assigned Ilija Batljan Invest an issuer rating of SD and a senior unsecured bond rating of D, following a bond restructuring. Subsequently, the issuer and senior unsecured bond ratings were reinstated at C, placed under review for a possible upgrade

      Fnac Darty S.A.’s planned bond issuance in line with rating case

      18/3/2024 Monitoring note EN

      Fnac Darty S.A.’s planned bond issuance in line with rating case

      The upcoming issuance of EUR 500m senior unsecured debt does not alter the issuer’s rating case. The bond proceeds are earmarked for the refinancing of two bonds maturing in 2024 and 2026.

      Scope affirms Envien’s issuer rating at BB/Stable, downgrades senior unsecured bond rating to BB-

      14/3/2024 Rating announcement EN

      Scope affirms Envien’s issuer rating at BB/Stable, downgrades senior unsecured bond rating to BB-

      The downgrade on the bond rating reflects the change in recovery assessment on higher bank debt. The issuer rating is derived from the rating of the guarantor parent, Envien International Ltd, and reflects deteriorated yet still good credit metrics.

      Scope publishes BBB-/Positive issuer rating on Hungarian oil and gas company MOL

      14/3/2024 Rating announcement EN

      Scope publishes BBB-/Positive issuer rating on Hungarian oil and gas company MOL

      The rating is supported by a good financial risk profile but is held back the relatively weak business risk profile.

      Scope withdraws Alfa Equity Holding Kft.’s credit rating due to insufficient information

      8/3/2024 Rating announcement EN

      Scope withdraws Alfa Equity Holding Kft.’s credit rating due to insufficient information

      The withdrawal reflects continued uncertainty about the future of the partially finished HA11ER 1 development and an unpredictable business strategy. Due to nonreliable, insufficient, and inaccurate information, the agency is unable to uphold its rating.

      Scope downgrades Vasútvill Kft.’s issuer rating to C/Negative

      5/3/2024 Rating announcement EN

      Scope downgrades Vasútvill Kft.’s issuer rating to C/Negative

      Vasútvill's severe liquidity problems and the lack of recovery of its order backlog drive the downgrade, which concludes a period of the ratings being under review.