Scope assigns GOPD 'B' rating


Scope Ratings has assigned Hungarian real estate developer GOPD a first-time issuer rating of "B," with a stable outlook, GOPD said in a disclosure posted on the website of the Budapest Stock Exchange.

Scope Ratings also assigned a preliminary rating of "B+" for a planned 10-year, HUF 5 billion senior unsecured bond that GOPD wants to issue in Q2 2022 if the security gets an 80% guarantee from the Hungarian Development Bank (MFB).

The developer would issue the security under the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary.

A "B+" rating on securities is the threshold for participation in the BGS. In a separate statement, Scope Ratings said the rating reflects GOPD's "strong dependence" on its subsidiary SunDell Estate and its "limited size."

The firm plans to use the proceeds from the HUF 5 bln issue to acquire majority ownership in SunDell (it currently holds a 37.24% stake) and develop other plots, it added. Shares of both GOPD and SunDell Estate, a real estate investment trust (REIT), are listed on the Budapest bourse. 


Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.