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VILNIUS - S&P Global Ratings has maintained MAXIMA GRUPĖ UAB’s BB+ credit rating with a stable outlook despite the Baltic retail group’s plans to divest its operations in Poland and Bulgaria, according to a statement based on the rating agency’s October 10 assessment.
The international credit rating agency acknowledged that the planned separation will reduce MAXIMA GRUPĖ’s size, geographical diversification, and growth prospects. However, S&P noted that the divestment will also allow for the transfer of lease and financial obligations related to these activities.
As a result of the transaction, S&P expects MAXIMA GRUPĖ’s financial leverage to be lower than the previously forecast 2.4x in 2025, according to the rating agency’s methodology.
S&P indicated that the divestment plans have no direct impact on the company’s individual credit profile of ’bb+’ or its issuer credit rating of ’BB+’. However, the agency may conduct another review once more information becomes available about changes in the company’s business strategy and capital structure.
Prior to the planned divestment, MAXIMA GRUPĖ has decided to redeem €240 million worth of bonds maturing in July 2027 ahead of schedule.
MAXIMA GRUPĖ currently manages retail chains "Maxima" in the Baltic countries, "Stokrotka" in Poland, "T Market" in Bulgaria, and the online food store "Barbora" operating in the Baltic countries. The company 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 region, Sweden, Poland, and Bulgaria.
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