LA SIRENA ALIMENTACIÓN CONGELADA SL


Type of ratings: Corporate

Rating value: BB-

Outlook: No Trend

License: EthiFinance Ratings

Solicited

EthiFinance Ratings assigns for the first time an "BB-" rating with a Stable outlook to La Sirena. The company focuses its activity on the food distribution sector, specifically frozen products. Its activity is mainly developed through its retail channel in Catalonia (220 stores) and Madrid (42 stores). At year-end 2021 (30/04), the company reported revenues of € 194.4MM (+19% YoY) with EBITDA of € 13.8MM (EBITDA Margin of 7.1%). The NFD/EBITDA and EBITDA/Interest ratio stood at 0.8x and 2.6x, respectively.

Ratings

Rating action: Withdrawal

The credit rating has been withdrawn due to a client's request.

Action date: 2022-10-26

Date last rating: 2022-08-15

Date first rating: 2021-12-02

Documents

Executive summary:

Methodologies

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