Research Detail
| 2019/08/20 / Erste Group Research |
Issuer Profile | DARS DARS was founded in 1993 by its 100%-owner, the Republic of Slovenia, and is responsible for the planning, financing, construction, maintenance, operation and toll collection of Slovenia´s entire motorway and expressway network with a total length of more than 620km. With a balance sheet total of more than EUR 5.6bn and 1,232 employees, in 2018 DARS generated revenues of roughly EUR 495mn and net earnings of EUR 154mn. Credit ratios have been improving persistently during the past years. Out of a total EUR 2.3bn financial debt, bank loans accounted for approx. EUR 2.0bn. Eurobonds and a promissory note (Schuldschein) are outstanding with a combined volume of roughly EUR 300mn with maturities until 2030. All debt issues by DARS are guaranteed by the Republic of Slovenia (Baa1/AA-/A). |
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General information
| Author | Erste Group Research |
| Date | 2019/08/20 |
| Language |  |
| Product name | Credit News |
| Topic in focus | Credits/ Corporate bonds |
| Economy in focus | Slovenia |
| Currency in focus | Euro |
| Sector in focus | - |
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