Tassnief assigns credit rating to Mayar

Logo of Mayar Holding Co.

Simah Rating Agency (Tassnief) assigned an initial long-term credit rating of BB-(pi) and a short-term rating of T-5 on the national scale to Mayar Holding Co., which is listed on the Nomu-Parallel Market.

The BB- rating reflects low creditworthiness and high credit risk, with the potential for significant fluctuations depending on economic conditions and business sector changes.

This is an unsolicited rating, indicated by the (pi) symbol, based on analytical procedures similar to traditional credit ratings. However, it relies on publicly available disclosures from the company, along with other secondary sources.

Tassnief noted that these ratings do not carry an outlook but are reviewed annually based on the latest available financial data. They may also be reassessed earlier in case of a major event impacting the company’s credit quality.

Additionally, the agency highlighted that a significant capital increase could reduce current debt ratios and improve cash flow generation, which would be a key factor for a potential credit rating upgrade.