9/5/2023 Rating announcement EN
Scope withdraws Optimum Solar Zrt.’s credit ratings due to insufficient information
Scope observed a breach of the company’s standstill agreement with creditors, which points to an imminent default risk. Due to nonreliable, insufficient, and inaccurate information and the misuse of funds, the agency is not able to uphold its ratings.
28/9/2022 Rating announcement EN
Optimum Solar C/Negative rating reinstated following selective default
Scope reinstates Optimum Solar’s issuer rating of C/Negative and the senior unsecured debt rating of C as the restructuring plan ensures the company remains a going concern, after a selective default due to a distressed exchange.
6/5/2022 Monitoring note EN
Optimum Solar reaches standstill agreement until 30 June 2022
The temporary standstill agreement with all bondholders must meet certain conditions and should ensure the protection of bondholders and other stakeholders alike.
14/4/2022 Rating announcement EN
Scope downgrades Optimum Solar's issuer rating to C and keeps the Outlook Negative
The downgrade is driven by a much weaker financial risk profile as customers of Optimum Solar find it hard to finance projects, hampering its operations. Other problems include poor governance and imminent default risk due to a lack of liquidity.
17/5/2021 Rating announcement EN
Scope affirms Optimum Solar's B+ issuer rating and changes the Outlook to Negative
The issuer rating is driven by the company’s profitability and the supportive domestic regulatory environment. Constraints include weak diversification and an elevated leverage, which is expected to increase further.
8/5/2020 Monitoring note EN
Optimum Solar Kft. ratings monitored after terms of proposed bond updated
The amended bond terms, which relate to amortisation and the use of proceeds, have no rating impact.
4/2/2020 Rating announcement EN
Scope assigns a first-time issuer rating of B+/Stable to Optimum Solar Kft.
The issuer rating is driven by the company’s stable profitability and the supportive domestic regulatory environment. Constraints include weak diversification and an anticipated rise in leverage driven by growth.