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
Rate this item
(0 votes)

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

Most Popular

Africrest Properties completes mixed-use development, Stanley Studios in Johannesburg

Jan 21, 2020
39 Stanley Avenue
What could be better than living in an extremely well-priced apartment or working in…

Three stocks to boost your portfolio in 2020

Jan 22, 2020
Dr Adrian Saville CEO Cannon Asset Managers
After enduring a trying decade under the mismanagement and malfeasance of Jacob Zuma,…

New hotspots driving cost hikes in key data centre markets - thriving market in South Africa

Jan 21, 2020
Dan Ayley Turner and Townsend
Major global data centre markets are seeing soaring construction costs as development in…

Equites Property Fund Limited to develop a R1.3 bn warehouse for Pepkor

Jan 21, 2020
Andrea Taverna Turisan  CEO Equites Property Fund
Equites Property Fund Limited (Equites) today announced an agreement with leading…

2020 Commercial Property Themes –Electricity supply and cost will be a key wildcard for the Commercial Property Sector this year

Jan 23, 2020
John LoosFNB
Will electricity supply reliability and cost increases become a key issue again in 2020?

Please publish modules in offcanvas position.