By the evaluation of the European rating company, the rating of the Georgian company was assessed as bb- and outlook stable. The high credit rating of the company was defined by the healthy financial risk profile of the company (BB), high operational efficiency and low business risk profile (BB-), European rating company assesses “Tegeta Motors” as the market leader, which is strengthened by the sound positions on the local as well as regional markets. According to the evaluation of SCOPE, according to the strategy of “Tegeta Motors”, it is predictable in the following years to expect significant improvements in financial figures of the group, which will have a positive impact on the credit rating of the company.
“Tegeta Motors” is the first company from automobile industry field in the Caucasus and Eastern Europe that managed to obtain a rating from the influential rating company Fitch in 2017. In 2019 the company significantly improved its financial position and improved the credit rating with 3 stages, it is remarkable that only several companies in Georgia have BB- rating and it is unprecedented in the automobile industry.
“Tegeta Motors” offers its customers the full range of automobile services, which covers automobile products, light and truck vehicles, special equipments selling and servicing, also the group offers the customers the rent of cars and construction equipments, the above mentioned fields ensure the diversification of customers and decreased operational risks. According to the evaluation of the rating company, such portfolio is a positive factor as it balances the risks that are associated with the single customer group. The company successfully cooperates with world leading brands such as: Porsche, Toyota, Mazda, Man, JCB, Bridgestone, Michelin, Varta, Shell, Bosch and other world class brands, which defines the diversification of business portfolio and low operational risks.
“Tegeta Motors” has established as regional market leader in automobile field, which is reflected on the business 20% growth indicator in the last three years” – says the rating agency.
“Tegeta Motors” operates on Georgian market since 1995. The holding unites 7 affiliated companies and reserves a leading position in automobile industry for 24 years. Company services up to 250 000 registered retail customers and up to 30 000 corporate customers.