The German international credit rating company Scope Ratings has updated the credit rating of JSC "Nikora Trade" and confirmed it as B + stable, and BB- for issued unsecured bonds.
JSC "Nikora Trade" was awarded B + rating in 2018. The rating confirmed for the company by "Scope Ratings" is one of the highest ratings of the company for the B + Georgian market. Such rating was due to the strong position in the highly competitive market and the company's growth potential.
According to Scope Ratings, JSC Nikora Trade is rated as a market leader with a high market share and growing sales.
Nikora Trade holds about 20% of the organized retail-food market, which is represented in more than 300 different sales outlets in different regions of the country, which ensures a stable flow of income.
Confirmation of the rating is especially important against the background of the negative impact of the pandemic on the economy and once again shows that "Nikora Trade" is a reliable, financially transparent, retailer with high purchasing power and high profitability. Nikora Trade is the first company in the field of retail trade of food and household products in Georgia, which has obtained a similar rating.