EthiFinance Ratings affirms Bioarag s "BB-" rating, maintaining its Stable outlook. Niche company with an international focus specialized in the manufacture of double counting and advanced biofuel from plant and animal waste. Through its only production plant (Huesca), they commercialize biodiesel (own production and tolling) to large petrochemical groups. In 2021, the company reported a turnover of € 46.6M (-4% YoY) with an EBITDA of € 3.3M (EBITDA margin 7%). NFD/EBITDA ratio stood at 1.5x.