Announcements

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      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.

      Scope maintains B- issuer rating on Vasútvill Kft. under review for a possible downgrade

      6/12/2023 Rating announcement EN

      Scope maintains B- issuer rating on Vasútvill Kft. under review for a possible downgrade

      Slow recovery of the order backlog raises concerns on Vasútvill’s business viability and continues to weigh on business and financial risk profiles. Limited visibility in the short-term recovery of financial figures justifies the under-review placement.

      Scope maintains B- issuer rating on Vasútvill Kft.; still under review for a possible downgrade

      4/10/2023 Rating announcement EN

      Scope maintains B- issuer rating on Vasútvill Kft.; still under review for a possible downgrade

      The rating action reflects Vasútvill’s weak order backlog that raises concerns on the business profile's viability. Liquidity still benefits from a low fixed cost base and non-significant loan maturities in the very short-term.

      Scope downgrades Vasútvill’s issuer rating to B- and places it under review for a possible downgrade

      6/7/2023 Rating announcement EN

      Scope downgrades Vasútvill’s issuer rating to B- and places it under review for a possible downgrade

      The downgrade reflects weakening credit metrics, due to a significant decline in the order backlog. A further downgrade is possible amid impending headwinds including a continued weak backlog as the Hungarian government lowered its budget for the segment.

      Scope downgrades Vasútvill's issuer rating to B+/Negative from BB-/Negative

      15/3/2023 Rating announcement EN

      Scope downgrades Vasútvill's issuer rating to B+/Negative from BB-/Negative

      The downgrade reflects a deterioration of the financial risk profile due to a significant decline of the order backlog. The Outlook is Negative amid headwinds including the low order intake and an unsupportive macroeconomic environment.

      Scope affirms BB- issuer rating of Vasútvill Kft. and revises Outlook to Negative

      14/6/2022 Rating announcement EN

      Scope affirms BB- issuer rating of Vasútvill Kft. and revises Outlook to Negative

      The Outlook change is driven by the shrinking construction backlog that could lead to lower revenues and thinner profit margins.

      Scope affirms BB-/Stable issuer rating on Vasútvill Kft.

      12/7/2021 Rating announcement EN

      Scope affirms BB-/Stable issuer rating on Vasútvill Kft.

      The affirmation reflects Vasútvill's niche market position, long track record and healthy financial metrics. The rating is held back by the company's small size, concentrated backlog and customer portfolio as well as weakened profitability.

      No impact on Vasútvill Kft.'s BB-/Stable rating from change in bond terms

      13/1/2021 Monitoring note EN

      No impact on Vasútvill Kft.'s BB-/Stable rating from change in bond terms

      Following adjustments to its business plan, the company now intends to issue a HUF 3bn senior unsecured bond instead of the initially planned HUF 8bn bond. The bond conditions remain unchanged.

      No impact on Vasútvill Kft. BB-/Stable rating bond issuance

      2/12/2020 Monitoring note EN

      No impact on Vasútvill Kft. BB-/Stable rating bond issuance

      The planned HUF 8bn senior unsecured bond will be issued slightly earlier than expected and will now be amortising.

      Scope Ratings has today assigned a first-time issuer rating of BB-/Stable to Vasútvill Kft.

      7/7/2020 Rating announcement EN

      Scope Ratings has today assigned a first-time issuer rating of BB-/Stable to Vasútvill Kft.

      The rating is supported by the company's niche market position, long track record, and healthy financial metrics. The company's small size as well as its concentrated backlog and customer portfolio are the main constraints.