The BCRA - credit rating agency, which on 4 April 2011 became the first Bulgarian and the third fully recognised credit rating agency registered in the EU, has assigned a BB credit rating and a BB bond rating to Caola Zrt. The ratings issued by BCRA are valid throughout the EU and are fully equivalent to the ratings issued by other agencies recognised by the European Securities and Markets Authority (ESMA), without any territorial or other restrictions. The initial rating of Caola Zrt. was determined at a meeting held by BCRA on February 11, 2022, chaired by Dr. Kiril Grigorov, Chairman of the Rating Committee. After evaluating a number of qualitative and quantitative risk factors, the members of the rating committee decided, in accordance with their corporate rating methodology, to assign Caola Zrt.
- long-term issuer credit rating: BB-, outlook: stable,
- long-term bond rating: BB, outlook: stable.
The issuer credit rating is based on Caola Zrt.'s long-term track record, future business development prospects and sound credit metrics. The outlook is stable and risks are balanced. The expected gross financial growth is positive, Caola Zrt. will be able to generate more than sufficient cash flows to service its liabilities in a timely manner.
