Announcements

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      Instrument data
      Senority
      Senior Unsecured
      Currency
      HUF
      ISIN
      HU0000359211
      Coupon percent
      4%
      Coupon type
      Fixed
      Instrument volume
      44,000,000,000
      Maturity date
      07/11/2026
      -
      BB- Outlook: None
      BB- Outlook: None
      Latest change
      Downgrade
      08/12/2023
      General information
      Rating
      Public
      Unsolicited
      With issuer participation
      UK endorsed
      EU Rated
      Fayçal Abdellouche Lead analyst
      Philipp Wass Committee chair
      Scope downgrades Cordia’s issuer rating to BB- from BB and maintains Negative Outlook

      8/12/2023 Rating announcement EN

      Scope downgrades Cordia’s issuer rating to BB- from BB and maintains Negative Outlook

      The rating action reflects the risk that credit metrics could deteriorate amid weak market fundamentals for newly built apartments. This risk has led to a weaker assessment of the financial risk profile.

      Scope affirms Cordia International Zrt’s BB/Negative issuer rating

      26/5/2023 Rating announcement EN

      Scope affirms Cordia International Zrt’s BB/Negative issuer rating

      The affirmation reflects credit metrics that have remained well within Scope’s rating guidance, thanks largely to strong profitability that has allowed the company to withstand the weak market fundamentals on newly built apartments.

      Scope changes Outlook to Negative for BB issuer rating of Cordia International Zrt

      2/6/2022 Rating announcement EN

      Scope changes Outlook to Negative for BB issuer rating of Cordia International Zrt

      The ratings are primarily driven by the company's well diversified project pipeline and currently moderate leverage but constrained by a lack of recurring revenues and negative free operating cash flows due to forecasted expansion plans.

      Scope affirms BB/Stable issuer rating of Hungarian real estate developer Cordia International Zrt.

      26/6/2020 Rating announcement EN

      Scope affirms BB/Stable issuer rating of Hungarian real estate developer Cordia International Zrt.

      The ratings are primarily driven by the company's well diversified project pipeline and moderate leverage but constrained by a lack of recurring revenues and negative free operating cash flows.

      Scope assigns first-time issuer rating of BB to Cordia International Zrt., Outlook Stable

      12/9/2019 Rating announcement EN

      Scope assigns first-time issuer rating of BB to Cordia International Zrt., Outlook Stable

      The issuer rating is driven by the company’s well-diversified project pipeline and strong debt protection, but held back by its status as a pure-play developer and significantly negative free operating cash flows.

      Date Title