7/6/2023 Rating announcement EN
Scope affirms Progress Étteremhálózat Kft.’s issuer rating at BB/Stable
The rating actions reflect the resilient operating performance, good cash flow and the timely execution of investments resulting in a larger good-quality fixed-asset base and a better recovery assessment.
10/6/2022 Rating announcement EN
Scope affirms Progress Étteremhálózat Kft.’s ratings at BB with Stable Outlook
The affirmation reflects revenue exceeding pre-Covid levels, good profitability and cash flow generation and deployed capex with manageable leverage in an inflationary environment.
13/7/2021 Rating announcement EN
Scope upgrades the rating of Progress Étteremhálózat Kft. to BB from BB-, Outlook remains Stable
The rating at BB is supported by a strong market position in Hungary; high margins despite the pandemic; significant growth potential; and repaid bank debt at the holding level. The rating is constrained by low diversification and increasing leverage.
7/7/2020 Rating announcement EN
Scope assigns BB-/Stable to Hungarian company Progress Étteremhálózat Kft.
The ratings are driven primarily by the company's strong position in Hungary, high margins, and significant growth potential.