On February 15th, 2022, EthiFinance Ratings has revised the methodology applied to the credit ratings of corporate issuers, requiring by regulation the approval of the updated rating by our Rating Committee within a maximum period of 6 months. Thus, the credit rating has been revised on the same basis of information and rationale as our previous rating report dated on the December 21th, 2021, resulting in no changes to the rating. Under this action, EthiFinance Ratings affirms Sampol Grupo Corporativo 's "BBB-" rating, maintaining its Stable outlook.
Sampol Grupo Corporativo, S.L. is a Spanish engineering company with more than 85 years of history. Its historical positioning in Spain and the Caribbean (82.5% of EBITDA in 2020) in the airport and hotel sectors, together with its activity in power plants (EPC and energy sales) make up the majority of its business. At year-end 2020, the company reported revenues of € 129.6m and EBITDA of € 12.9m, with a NFD/EBITDA ratio of -0.88x (although our adjusted ratio, which also includes the amounts of customer advances, leads to a ratio of -0.18x).