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

Table Bay Mall Takes 33 Steps Forward as it Turns One

Oct 18, 2018
TABLE BAY MALL
Table Bay Mall celebrated its 1st anniversary on 28 September 2018. With 65,000m² of…

RDDA winners announced on the opening day of the (SACSC) Annual Congress held at the Durban’s International Convention Centre

Oct 18, 2018
BAI
The 2018 Retail, Design and Development Awards (RDDA) winners were announced on the…

Affordable and secure inner-city micro-living on the up in the heart of Cape Town

Oct 23, 2018
INVESTICORE
Getting your foot on the property ladder isn’t easy for first-time buyers.

Off-grid will no longer be an option for Cape Town home owners

Oct 31, 2018
SOLAR REG 1
Spiralling electricity costs and the escalating energy crisis have fuelled a fast-growing…

Continued diverging trends in residential building activity at segment level

Oct 23, 2018
Jacques Du Toit Absa Home Loans
Private sector-financed building activity (see explanatory note) in the South African…

Please publish modules in offcanvas position.