Covivio: S&P confirms BBB+ rating, stable outlook
(CercleFinance.com) - Covivio is pleased to announce that at its annual review, S&P confirmed Covivio's financial rating at BBB+, with a stable outlook.
This confirmation recognises the strength of the company's operational and financial profile, Covivio said.
S&P emphasised the strength of the company's operating profile, which is diversified and driven by its strong rental momentum. For the record, LFL rental growth stood at 11% at end-March 2023, with an occupancy rate of 95% and an average firm lease maturity of 7 years, the company said.
Regarding its financial profile, the rating agency highlights the strength of its balance sheet; average debt maturity of almost 5 years, 87% interest rate hedging and an average maturity of hedging instruments of 6.3 years.
S&P also mentions credit ratios well within the thresholds for a BBB+ rating.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
This confirmation recognises the strength of the company's operational and financial profile, Covivio said.
S&P emphasised the strength of the company's operating profile, which is diversified and driven by its strong rental momentum. For the record, LFL rental growth stood at 11% at end-March 2023, with an occupancy rate of 95% and an average firm lease maturity of 7 years, the company said.
Regarding its financial profile, the rating agency highlights the strength of its balance sheet; average debt maturity of almost 5 years, 87% interest rate hedging and an average maturity of hedging instruments of 6.3 years.
S&P also mentions credit ratios well within the thresholds for a BBB+ rating.
Copyright (c) 2023 CercleFinance.com. All rights reserved.