S&P Maalot Affirms Shufersal's 'ilAA' Credit Rating
S&P Maalot has affirmed the 'ilAA' credit rating for the Shufersal Group with a stable outlook. Analysts highlighted that the growth and efficiency strategy led by co-CEOs Yossi and Shlomi Amir continues to bolster the company's business profile.
The credit rating agency S&P Maalot affirmed today (Sunday) the credit rating of the Shufersal Group at 'ilAA' with a stable outlook. The agency expects the company's revenues to grow through 2026–2027 while maintaining its adjusted EBITDA margin, noting that the growth strategy and efficiency measures implemented in recent years continue to support the strengthening of its business profile.
In the rating report, analysts highlighted that the strategy led by co-CEOs Yossi and Shlomi Amir includes a series of initiatives designed to strengthen the group's operations. Key actions mentioned include opening new branches, investing in customer service, expanding private label offerings and direct imports (including chilled meat), supply chain optimization, operating automated warehouses in Modiin and Kadima, and integrating new digital tools.
Analysts see additional growth potential through synergies between the food sector and the group's real estate arm. Shufersal holds a significant portfolio of real estate assets that support its nationwide presence and retail flexibility. As part of its real estate growth strategy, the company is working to enhance asset value through development, retail space expansion, and the divestment of non-core assets.
S&P Maalot added that continued development in the real estate sector could help diversify income sources and EBITDA. Furthermore, they estimate that the company will continue to drive innovation through brand development, the expansion of B2B activities, and online operations, ensuring it maintains its leading position in the industry.
Regarding liquidity, analysts noted that the Shufersal Group's position remains "strong," supported by stable cash flow, high financial flexibility from unencumbered income-generating assets, a favorable debt repayment schedule, and access to diverse funding sources.
