Fitch Ratings Upgrades Eleving Group to Positive Outlook

Fitch Ratings has elevated Eleving Group's Long-Term Issuer Default Rating to "B" with a positive outlook from a stable one. Despite this upgrade, the firm's senior secured debt rating remains at "B". The improved outlook aligns with Eleving's enhanced capital structure post-2024 IPO and strong performance.

The credit agency suggests a possible future rating upgrade if Eleving maintains its financial improvements and successfully refinances its EUR 150 million bond due in 2026. The positive revision reflects the company’s profitability, reduced leverage, and competent management.

In 2024, Eleving Group posted a revenue of EUR 216.6 million and a net profit of EUR 29.6 million. The first quarter of 2025 continued this trend with a revenue of EUR 58.6 million and a net profit of EUR 6.4 million, supported by a loan portfolio of EUR 371.1 million.