Axesor maintains Audax's rating
Last June, Axesor granted Audax Energía a BBB- rating and this rating has been ratified after the acquisition of 70,86% of Fersa Energías Renovables shares. The rating agency maintains the grade considering the evaluation of solvency and the associated credit risk in the medium and long term.
This ratification of the rating has been based on an analysis of the main financial figures and an evaluation of Audax's business data, highlighting the optimal positioning of the company, especially in the SME segment, which will be driven by synergies and competitive advantages. derived from the acquisition of Fersa. The Fersa operation represents Audax's entry into the electricity generation phase, which will allow it to achieve complete vertical integration, acting as buyer and seller in the wholesale electricity market and positioning itself as the 5th independent energy company.
The Axesor agency has positively assessed the company's current international expansion process for the ratification of the BBB- rating. Audax is already present in the markets of Portugal, Italy, Germany and Poland and plans to soon enter new countries in the European Union. The internalization process allows us to reduce exposure to the national market and generates important growth opportunities in new markets.
The marketing company has restructured its management, expanding the management team and adapting it to the new reality and size of the company. Likewise, the rating agency has positively evaluated the operational procedures and the reporting and management system of its clients, which allows it to differentiate itself from its competition.
At a financial level, it is worth highlighting the high levels of profitability of Audax, favored by the improved margins, an optimal solvency situation with a moderate level of debt and an excellent liquidity position, supported by an improvement in the generation of operating cash and the positive structure of the working capital.
Audax values very positively the ratification of the BBB- rating with a stable trend by Axesor, confirming the company's solvency in order to face its next projects.