Initiation date
21/07/2020
Rating date
23/06/2023
Contacts
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Lead analyst
Paula Faundez
paula.faundez@ethifinance.com
EthiFinance Ratings upgrades Sacyr s rating from BB+ to BBB-, changing its outlook from Positive to Stable. The group operates as an infrastructure concessionaire and offers complementary services in the engineering, construction and environmental sectors. The company operates at an international level, mainly in Spain and South America. For 2022, the group reported revenue of EUR 5.852m (+25.2% compared to 2021), with EBITDA of EUR 1.500m (25.6% margin), registering a NFD/EBITDA ratio of 5.2x (1.7x considering EBITDA with recourse adding dividends and distributions of assets funding with non-recourse debt, and net financial debt with recourse).