News
Scope Ratings affirms AutoWallis’s credit rating score in recognition of its successful growth strategy
2024.07.03.
Scope Ratings has completed the annual review of AutoWallis Plc’s credit rating score, taking into account the company’s new, updated growth strategy and the business plan containing its financing plans. In line with these plans, AutoWallis hopes to again double its figures by 2028 to realize revenue of HUF 750 billion and an EBITDA of HUF 40 billion. The independent institute affirmed its rating of the company and its debts with a stable outlook, recognizing its success in managing exceptional growth.
Scope Ratings GmbH has once again this year reviewed the rating first assigned AutoWallis Plc in 2019, leaving the rating unchanged (B+) despite the risks associated with strong growth. It changed the outlook from positive to stable due to the increased plans for growth and the resulting need for financing, at the same as changing the financing rating to B+ and improving the business activity rating (BB-) in recognition of the diversification already achieved. The rating of bonds already issued by the company also remains B+. Based on the assessment of Scope Ratings, AutoWallis, listed in the Prime Market of the Budapest Stock Exchange, continues to meet the conditions of the Growth Credit Programme (NKP) launched by the National Bank of Hungary.
The detailed Scope Ratings report:
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