sur Grand City Properties S.A., (ETR:GYC)
Grand City Properties Downgraded to BBB by S&P
Grand City Properties S.A. has announced a credit rating downgrade by Standard & Poor’s to BBB from BBB+. This decision aligns with S&P's methodology following a similar downgrade for Aroundtown due to economic challenges. The update affects the company's bonds, now rated BBB, and perpetual notes downgraded to BB+.
This downgrade is attributed to macro-economic uncertainties and a slowing German economy affecting Aroundtown's business activities. However, S&P expects Grand City Properties' operating performance to remain solid, supported by favorable real estate market conditions in Germany and London, sustaining positive rental growth.
The firm emphasizes its prudent financial management approach, characterized by a reduction in leverage and maintenance of strong liquidity. Grand City Properties continues to show significant financial resilience with high credit metrics and substantial headroom in meeting financial covenants.
R. P.
Copyright © 2025 FinanzWire, tous droits de reproduction et de représentation réservés.
Clause de non responsabilité : bien que puisées aux meilleures sources, les informations et analyses diffusées par FinanzWire sont fournies à titre indicatif et ne constituent en aucune manière une incitation à prendre position sur les marchés financiers.
Cliquez ici pour consulter le communiqué de presse ayant servi de base à la rédaction de cette brève
Voir toutes les actualités de Grand City Properties S.A.,