7/12/2023 Rating announcement EN
Scope affirms Stavmat’s B+ issuer rating and changes Outlook to Negative from Stable
The Negative Outlook reflects weaker operating profitability and credit metrics due to the strong price competition in a more challenging macroeconomic environment.
13/4/2023 Rating announcement EN
Scope affirms Stavmat’s B+ issuer rating and changes Outlook to Stable from Positive
The changed Outlook reflects Scope’s view that Stavmat’s financial policy has not become less aggressive following its announcement of a new business plan involving further site acquisitions financed mostly by a HUF 3.2bn loan.
27/4/2022 Rating announcement EN
Scope affirms Stavmat’s B+ issuer rating and revises the Outlook to Positive from Stable
The rating affirmation reflects continued growth paired with stable debt levels. The Outlook change incorporates Scope’s view of a less aggressive financial policy.
21/5/2021 Rating announcement EN
Scope assigns first-time issuer rating of B+/Stable to Hungarian wholesaler Stavmat Zrt.
The rating reflects the limited size and diversification, dependent on the local construction business cycle. However, a leading local market position, solid liquidity and adequate financial metrics amid the planned bond issuance are credit strengths.