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Maxima Grupė’s solid BB+ credit rating affirmed by Standard & Poor’s

Written by Customer Service on . Posted in Public Companies.

Maxima Grupė, owning the leading retail chains Maxima and Barbora (an e-commerce business) in the Baltic States, as well as the retail chains Stokrotka in Poland and T-market in Bulgaria is pleased to announce that Standard & Poor’s has confirmed its BB+ credit rating with a stable outlook. This affirmation reflects Maxima Grupė’s strong financial position, robust business model, and its ability to navigate challenging market conditions.

According to Standard & Poor’s, among the reasons for affirming the solid BB+ credit rating is the successful ongoing expansion of the Stokrotka retail chain in Poland, also strong market share in Baltics thanks to a competitive price position and high brand awareness.

“S&P’s decision to uphold Maxima Grupė’s BB+ rating underscores the company’s resilient performance and prudent financial management, even in the face of the global economic uncertainty that has unfolded in recent times. We are delighted that Standard & Poor’s has recognized our efforts to ensure good store format diversity and a high share of private-label sales. Additionally, Standard & Poor’s has noted Maxima Grupė’s  prudent financial policy, robust cashflow generation, and consistent leverage below 3x,” notes Lauryna Šaltinė, the CFO of Maxima Grupė.

Maxima Grupė has maintained its BB+ credit rating since 2018. This solid credit rating has opened up new opportunities for the company in the international capital markets. In 2018, it successfully issued a 300-million-euro bond that matures in 2023. During the turbulent year of 2022 Maxima Grupė was among the first companies in the Eastern and Central European region to issue 240-million-euro bonds with a 5-year maturity.

Additional information

MAXIMA GRUPĖ operates retail chains MAXIMA (in the Baltics), STOKROTKA (in Poland), T-MARKET (in Bulgaria), and BARBORA, an online grocery store operating in the Baltics and Poland.

MAXIMA GRUPĖ is part of the Vilniaus prekyba group of companies. Vilniaus prekyba, through other subsidiaries, manages investments in retail and pharmacy chains and real estate development, and rental companies in the Baltic States, Sweden, Poland, and Bulgaria.

More information:
Lauryna Šaltinė
MAXIMA GRUPĖ, CFO
lauryna.saltine@maximagrupe.eu

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