Moody's affirms Nepi Rockcastle's BAA3 long-term credit rating and changes outlook to stable

Posted On Wednesday, 09 January 2019 15:21 Published by
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Moody's Investors Service has affirmed NEPI Rockcastle’s long-term credit rating and senior unsecured rating at ‘Baa3’ and changed the outlook from positive to stable.

 ALEX-MORAR

The rating reflects, among others, the good quality of the Group’s shopping centres, as illustrated by their consistently high occupancy and strong like-for-like rental growth, and the favourable macroeconomic fundamentals across the Central and Eastern European countries where the Group is present. The rating is also underpinned by the Company's track record of moderate debt metrics.

The change of outlook to stable from positive reflects the agency’s view that the Company’s liquidity management needs to strengthen. Moody’s also note that “the Company’s debt metrics remain strong for the rating and that its investment needs are currently more than covered by internally generated funds". 

Last modified on Wednesday, 09 January 2019 15:28

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