Standard & Poor’s has improved the outlook on the Maxima Group credit rating

Photo by Judita Grigelyts (V)

The international credit rating agency Standard & Poors assessed the performance and financial results of the Maxima Group and affirmed the BB + credit rating. after assessing positive performance, the rating outlook changed from negative to stable. A negative outlook was given last year in the face of macroeconomic uncertainty.

According to Standard & Poor’s, in 2020. and 2021. The performance of the Maxima Group in the first half of the year exceeded expectations. The credit rating agency forecasts better creditworthiness of the company, which was positively affected by the development of the managed store network (101 stores opened in 2020), increased demand for food products through the developed e-commerce channel Barbora and a balanced financial policy.

Diaugiams in this assessment of Standard & Poor’s. It reflects the result of the development of the Maxima Group in the Polish and Bulgarian markets, e. growth of the commercial segment and a strong position in the Baltic States. A stable rating outlook confirms the sustainability of the company’s business model and sound financial position, says KarolinaZygmantait, Head of Maxima Group Finance.

2020 The Maxima Group increased its market share in Poland and Bulgaria, where revenues grew by 9.9% and 22.2%, respectively. Monday 2021 In the first half of the year, revenues grew by 8.3% in Poland and 8.9% in Bulgaria.

Last year, the revenue of the e-commerce brand Barbora, managed by the Maxima Group, more than doubled, and in the first half of the year, with continued growth in the Baltic States and the launch of operations in Poland, sales revenue through the e-commerce channel increased by 71.3%.

The BB + credit rating was assigned to the Maxima Group in 2018. July 17 The received credit rating opened new opportunities for the company in the international capital markets in 2018. successfully distributed 300 million. Eur 5-year bond issue. This year, the Maxima Group eng still marketed 40 million shares in the international capital market. Euro worth of commercial paper issue. This was the first issue of its kind in the Baltic region.

The Maxima Group operates the retail chains Maxima (in the Baltic States), Stokrotka (Poland), T-Market (Bulgaria) and the e-food store Barbora, which operates in the Baltic States and Poland.

Maxima group belongs to Vilnius trade moni group. Vilnius Trade, through other subsidiaries, manages investments in retail and pharmacy networks and real estate project development and rental services in the Baltic States, Sweden, Poland and Bulgaria.

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