The company B&F ABEE Garments, in fulfillment of a relevant contractual obligation arising from the dated 27.06.2018 Program for the Issuance of a Common Bond Loan amounting to 25 million euros, proceeded to order a credit rating by the Credit Rating Agency IC Credit Rating Agency) AE (“ICAP”).
The Credit Ratings are in accordance with the requirements of Regulation (EC) 1060/2009 of the European Parliament and of the Council of 16 September 2009 on Credit Rating Agencies, as amended and in force.
The company announces that its creditworthiness (ICAP CRIF Credit Rating) is maintained in the BBB rating (corresponding old rating B), according to its reassessment from 07/06/2022 by ICAP.
The company’s BBB rating reflects the dynamic recovery of sales, operating results and profitability within 2021 following the reopening of its physical stores as well as the strengthening of cash and at the same time the improvement of cash liquidity.
According to the ICAP report, there are no events that affect the trading behavior of the company until 07.06.2022.
According to ICAP, the company is characterized by good financial condition, consistency in transactions and a stable course of operations.
Source: Capital
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