(CercleFinance.com) – Covivio announces that during its annual review, the S&P agency confirmed Covivio’s financial rating at BBB+, outlook stable. “This confirmation comes to recognize the solidity of the operational and financial profile of the company”, estimates Covivio.
S&P emphasizes the good performance of the operational profile, diversified and driven by rental dynamics. ‘As a reminder, the growth in rents on a like-for-like basis stood at +11% at the end of March 2023, the occupancy rate stands at 95% and the average firm lease maturity at 7 years’, underlines the company .
On the financial profile, the rating agency emphasizes the solidity of the balance sheet, with almost 5 years of average maturity of the debt, an interest rate coverage of 87%, for an average maturity of the hedging instruments of 6, 3 years.
S&P also mentions credit ratios well anchored within the thresholds of a BBB+ rating.
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