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VILNIUS - Baltic retail group Maxima Grupė, UAB has maintained its BB+ credit rating with a stable outlook following S&P Global Ratings’ annual review conducted on July 31, according to a company press release.
The rating agency highlighted Maxima’s revenue growth despite high competition, strong private label positioning, expansion of managed retail chains, and good diversification of store formats as key factors in its assessment.
S&P Global Ratings calculated the group’s financial leverage at 2.4x, compared to 2.2x in 2023, using the agency’s methodology. The BB+ rating for Maxima Grupė’s bond issuance also remained unchanged.
Maxima Grupė was first assigned a BB+ credit rating in 2018, the same year it issued €300 million in bonds that were subsequently redeemed in 2023. In 2022, the company issued a second bond offering of €240 million with a 5-year term.
The retail group manages chains including Maxima in the Baltic countries, Stokrotka in Poland, T Market in Bulgaria, and the online food store Barbora operating in the Baltic region. Maxima Grupė is part of the Vilniaus prekyba group, which controls investments in retail and pharmacy chains, as well as real estate development and rental service companies across the Baltic countries, Sweden, Poland, and Bulgaria.
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