This decision replaces the previous “Under Review for a possible downgrade” status.
The affirmation follows Masterplast’s successful acquisition of additional financing, alleviating immediate liquidity concerns. Bondholders granted a waiver in late November, permitting the company to raise further debt and stabilize its short-term financial position.
Consequently, Masterplast has addressed near-term refinancing risks, ensuring the repayment of its December 2024 bond obligations. Despite these positive developments, the company continues to face challenges due to the prolonged contraction in Hungary’s construction market, with demand remaining subdued.
While the new bank facility has mitigated immediate liquidity pressures, Scope notes that liquidity concerns could re-emerge, particularly with an additional HUF 3 billion bond amortization due in December 2025.
Masterplast is expected to proactively manage its refinancing and amortization obligations to maintain financial stability.
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