20/10/2023 Monitoring note EN
Updated analytical report on Abroncs Kereskedőház Kft
Following the recent downgrade of the issuer rating to BB-/Stable from BB/Stable, Scope has updated its analytical report on Abroncs Kereskedőház Kft.
18/10/2023 Rating announcement EN
Scope downgrades Abroncs Kereskedőház Kft.’s issuer rating to BB-/Stable
The downgrade reflects Scope’s view that weakening profits, driven by the negative market trend, will keep credit metrics under pressure in the medium term.
18/10/2022 Rating announcement EN
Scope affirms Abroncs Kereskedőház Kft. at BB with Stable Outlook
The affirmation reflects the company’s good results in 2021 and the limited impact that the acquisition of ARS has had on its financial risk profile and profitability.
25/11/2021 Rating announcement EN
Scope affirms Hungarian tyre distributor Abroncs Kereskedőház Kft at BB/Stable
The affirmation reflects the good 2020 results and the expectation that the financial risk profile will not be materially constrained by the ARS acquisition.
8/12/2020 Monitoring note EN
Abroncs Kereskedőház Kft’s new bond funding in line with refinancing strategy and rating case
Upcoming issuance of senior unsecured debt does not alter the issuer’s rating case with the bond used for refinancing purposes.
20/11/2020 Rating announcement EN
Scope assigns Abroncs Kereskedőház Kft first-time issuer rating of BB/Stable
The credit rating mainly reflects AKH's leading market position in the Hungarian tyre retailing industry and investment grade credit metrics. The rating is held back by the group's small size, low profitability and rather weak diversification.