Announcements

    Drinks

      Updated analytical report on Duna House Holding Nyrt.
      THURSDAY, 24/11/2022 - Scope Ratings GmbH
      Download PDF

      Updated analytical report on Duna House Holding Nyrt.

      Following the recent affirmation of the issuer rating at BB-/Stable, Scope has updated its analytical report on Duna House Holding Nyrt

      The rating benefits from: i) the company’s leading position as a real estate and financial services broker in Hungary and Poland; and ii) the improved diversification following the company’s acquisition of Hgroup, the second largest loan brokerage firm in Italy. Duna House Holding focuses on the retail segment and provides real estate and financial services, which ensures high customer granularity and adequate product diversification. The asset- and debt-light business model grants high interest cover and moderate leverage.

      Negative rating factors include the company’s small size in its highly fragmented markets as well as its recent aggressive expansion policy which has carried execution and transaction risks. The volatile cash flow driven by its non-core activity as a real estate developer also constrains the rating.

      This monitoring note does not constitute a rating action, nor does it indicate the likelihood of a credit rating action in the short term. On 14 November 2022, Scope affirmed the issuer rating at BB-/Stable and the senior unsecured debt rating at BB-. Click here for the corresponding rating action release. The latest information on the credit ratings in this monitoring note along with the associated rating history can be found on www.scoperatings.com.

      Download the report here
       

      Related news

      Show all
      Scope places LANXESS’ ratings under review for a possible upgrade following methodology update

      7/7/2025 Rating announcement

      Scope places LANXESS’ ratings under review for a possible ...

      Scope affirms BB+/Stable issuer rating of German Bikelasing company BLS Beteiligungs GmbH

      7/7/2025 Rating announcement

      Scope affirms BB+/Stable issuer rating of German Bikelasing ...

      Scope affirms BB- issuer rating on Hungarian real estate company Futureal; Outlook revised to Stable

      4/7/2025 Rating announcement

      Scope affirms BB- issuer rating on Hungarian real estate ...

      Scope affirms B+/Negative issuer rating on Hungarian real estate developer Wingholding Zrt.

      4/7/2025 Rating announcement

      Scope affirms B+/Negative issuer rating on Hungarian real ...

      Spanish Corporate Outlook: credit conditions improve; shallow local debt market remains constraint

      3/7/2025 Research

      Spanish Corporate Outlook: credit conditions improve; shallow ...

      Scope affirms B+/Stable rating on AutoWallis Nyrt.

      1/7/2025 Rating announcement

      Scope affirms B+/Stable rating on AutoWallis Nyrt.