RO car rental company gets its bonds rated by Fitch

International rating agency Fitch has assigned a 'B+' rating to the bonds issued by Romanian car rental company Autonom Services, owned by local entrepreneurs Marius and Dan Ştefan.

The company is the only entrepreneurial company with corporate bonds listed on the Bucharest Stock Exchange (BVB) that has received a rating from the international agency.

In December 2019, Autonom Services listed bonds worth EUR 20 million at BVB.

Fitch notes that the Autonom rating reflects a relatively small but growing company profile, with adequate profitability, reasonable asset quality, an experienced management team, and a predominantly guaranteed financing profile.

The negative outlook attached to the rating refers primarily to the coronavirus pandemic's potential impact on the company's asset quality and profitability.

At the same time, the Fitch report acknowledges that Autonom has reacted quickly to the COVID-19 crisis.

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