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

Scores of subcontractors at risk as yet another principal contractor enters business rescue

Jun 10, 2019
 MOHAU MPHOMELA
News of yet another principal contractor entering business rescue with tens of millions…

Lifestyle brand to open in Cape Town’s vibrant Longkloof precinct

May 30, 2019
 CANOPY FINAL
Hilton today announced the signing of a management agreement with Growthpoint Properties,…

How to invest in property without costly and risky direct ownership

Jun 05, 2019
 MARC EDWARDS
When people want to invest in real estate they usually secure a loan to purchase a…

Solid Performance By Arrowhead's Core Property Portfolio in Line With Expectations

May 29, 2019
 MARK KAPLAN
Arrowhead Properties Limited, a proudly South African JSE-listed REIT with a diverse…

Investec Australia Property Fund successfully lists on the ASX

May 29, 2019
 GRAEME KATZ
Investec Australia Property Fund has listed on the Australian Securities Exchange (ASX)…

Please publish modules in offcanvas position.