Fitch Gives MVM Dollar Bond 'BBB' Rating
International credit rating agency Fitch Ratings gave MVM Zrt.'s planned dollar bond the same rating as the company, "BBB." It awarded the same rating to Hungarian government debt, which is also recommended for investment, according to profitline.hu.
The analysis linked to the new bond classification highlights that, according to the company's preliminary estimate, MVM's earnings before interest, taxes, depreciation, and amortization (EBITDA) almost doubled last year and exceeded HUF 900 billion.
The growth was thanks primarily due to a higher margin achieved in a competitive market and lower system operating costs of the distribution network.
On Monday, MVM announced the possibility of issuing dollar-denominated bonds on the Budapest Stock Exchange for international bond market investors, depending on capital market conditions.
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