The renowned international credit agency Moody's in its latest, reported report yesterday, increased the Zagreb Holding's rating with Ba3 at Ba2 with stable outlook, they announced from the City's mega-company management.
Improving credit rating by Moody's is a clear confirmation that the rating agency has recognized the efforts of the Zagreb Holding Company's management and achieved results in the financial and operational restructuring of the Company. The increase in ratings is also the result of strong and significant support from the City of Zagreb, which is undergoing restructuring during 2016. issued a guarantee on issuing corporate bonds, says the press release.
They also recall that Moody's forecast for March this year forecasts the continuity of the stability of the Zagreb Holding business due to the reduction of foreign currency lending, refinancing of bonds, ie stability of financial operations and liquidity.
The past business year was a kind of milestone in many business segments of the Zagreb Holding. The most important business event in 2016, as Moody's said, was a successful completion of refinancing of bonds.
Secured by the City of Zagreb guarantee, the Zagreb Holding's bond raised the investor's great interest, which surpassed the offered 1,8 billions of kuna. This success also represents a historical transaction on the Croatian capital market and was followed by recognition of the Croatian investor public.