S&P Global Ratings has confirmed the BB+ credit rating of MAXIMA GRUPĖ, UAB with a stable outlook.

July 26, 2024, 02:04 Eastern Time | Source: MAXIMA GRUPE, UAB

On July 25, 2024, the international rating agency reviewed the activities of the group and its financial results, confirming MAXIMA GRUPĖ's long-term credit rating at BB+ with a "stable" outlook. The S&P Global Ratings report highlights the group's revenue growth, successful expansion in the Polish and Bulgarian markets, effectively managed costs, and stable cash flow.

Statement of the Chief Financial Officer

“We are pleased that S&P Global Ratings has recognized our strong performance in 2023, which exceeded forecasts, as well as the financial stability of the group and the reduction in the debt ratio, adjusted by S&P Global Ratings, with”2.8xto2.2x", — she statedLaurina Shaltine, financial director of MAXIMA GRUPĖ.

In addition, S&P Global Ratings has confirmed the BB+ rating for MAXIMA GRUPĖ's senior unsecured bonds. However, the agency noted that in order to maintain this rating, the group needs to reduce the proportion of secured debt in its capitalization.

The history of credit ratings

MAXIMA GRUPĖ first received a credit rating of BB+ in 2018.

Additional information

• MAXIMA GRUPĖ, UAB manages retail chains "Maxima" (in the Baltic countries), "Stokrotka" (in Poland), "T Market" (in Bulgaria), as well as the online grocery store "Barbora," which operates in the Baltic countries.
• MAXIMA GRUPĖ, UAB is part of the "Vilniaus prekyba" group of companies.
• Through its subsidiaries, "Vilniaus prekyba" controls investments in retail trade and pharmacy chains, as well as companies involved in real estate development and rental services in the Baltic States, Sweden, Poland, and Bulgaria.

Contact information

Contact person:Laurina ShaltineFinancial Director of MAXIMA GRUPĖ

Email:lauryna.saltine@maximagrupe.eu