Fitch Affirms NEPI Rockcastle at 'BBB'; Outlook Stable

Posted On Friday, 02 November 2018 14:33 Published by
Rate this item
(0 votes)

Fitch Ratings has affirmed real-estate company NEPI Rockcastle plc's Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB' with a Stable Outlook.

 ALEX-MORAR

Fitch has also affirmed the senior unsecured rating of NE Property Cooperatief U.A., a 100% owned subsidiary of NEPI Rockcastle, at 'BBB'.

The ratings reflect the company's large portfolio of dominant shopping centres across central and eastern Europe (CEE), mainly located in Romania (37% by market value) and Poland (24% by market value).

Despite rapid growth, the company has maintained a conservative financial profile with good liquidity and a high degree of financial flexibility. In addition, the expansion is steadily reducing asset concentration and continues to increase geographic diversification into higher-rated countries.

The Stable Outlook reflects our expectations that NEPI Rockcastle will continue its expansion, while maintaining its conservative financial profile by funding through a combination of debt and equity.

Last modified on Tuesday, 06 November 2018 18:55

Most Popular

Alexander Swart Property Group: Cape Town’s Residential Property Values still the best in SA

May 25, 2019
 BBA 1
A survey recently carried out by the respected property analysts, Lightstone, has…

Dipula Holding steady in tough trading conditions

May 22, 2019
 IZAK PETERSEN
JSE diversified REIT, Dipula Income Fund (Dipula), today announced steady interim results…

Lucid launches SA’s newest hotel brand Home* Suite Hotels

May 22, 2019
 BEDROOM
Lucid Ventures, the R350M Cape Town based Hotel Fund, this week announced the launch of…

Tradehold shows resilience in demanding markets

May 24, 2019
 FRIEDRICH ESTERHUYSE
In the year to February, 2019 Tradehold, with property interests split between southern…

EPP and Echo Investment awarded for Towarowa 22 plans

May 21, 2019
 EPP CEO HARDLEY DEAN
EPP, Poland’s largest owner of shopping malls and its partner Echo Investment, the…

Please publish modules in offcanvas position.