Ilija Batljan Invest’s deteriorated total cost coverage and increase in leverage, which Scope does not expect to recover in the short-to-medium term, drive the downgrade.
It happened the way it had to. Here on RATING.REPAIR, we pointed out two years ago that the rating of this company needs to be repaired.
Scope Ratings GmbH (Scope) has today downgraded the issuer rating of holding company Ilija Batljan Invest AB (IB Invest) to BB+/Stable from BBB-/Stable. Scope has affirmed the BBB- senior unsecured debt rating and downgraded the company’s subordinated hybrid note to BB- from BB.
Scope Ratings’ rating rationale:
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