Research Update: Akropolis Outlook Revised To Stable After Same Action On Maxima; 'BB+' Ratings Affirmed

We revised, to stable from negative, our outlook on Maxima Grupe UAB (Maxima), the main core subsidiary of Akropolis' parent, Vilniaus Prekyba UAB (VP group), following its recent stronger-than-expected operating performance. We still view Akropolis as a core subsidiary of VP group, and integral to the group's strategy, with the parent likely to provide support in case of stress, and so we align the rating on Akropolis with that on Maxima, which is the main driver of VP's creditworthiness. We have therefore revised our outlook on Akropolis to stable from negative, and affirmed our 'BB+' ratings, in line with Maxima Grupe. The stable outlook on Akropolis reflects that on Maxima, and our expectations that this entity, as well as VP

...- We revised, to stable from negative, our outlook on Maxima Grupe UAB (Maxima), the main core subsidiary of Akropolis' parent, Vilniaus Prekyba UAB (VP group), following its recent stronger-than-expected operating performance. - We still view Akropolis as a core subsidiary of VP group, and integral to the group's strategy, with the parent likely to provide support in case of stress, and so we align the rating on Akropolis with that on Maxima, which is the main driver of VP's creditworthiness. - We have therefore revised our outlook on Akropolis to stable from negative, and affirmed our '##+' ratings, in line with Maxima Grupe. - The stable outlook on Akropolis reflects that on Maxima, and our expectations that this entity, as well as VP group, will maintain S&P Global Ratings-adjusted debt to EBITDA and funds from operations (FFO) to debt below 3.0x and above 30% over the coming 12 months....

Research Update