GENERAL DE ALQUILER DE MAQUINARIA SA

EthiFinance Ratings affirms GAM's "BB" rating, changing its outlook from Stable to Positive. GAM is a group specialized in integral services of machinery rental and tailor-made solutions for lifting, handling, maintenance and energy needs. The company complements this activity by offering services such as maintenance of equipment, training, sale of new and used equipment, distribution and other auxiliary services. In 2022, the company's turnover was € 223,2MM with a recurring EBITDA of € 58,3MM (EBITDA margin of 26.1%). Adjusted NFD/EBITDA stood at year end in 4.0 times.