(AOF) – Klépierre announces that S&P Global has raised its rating outlook from stable to positive and revised its assessment of Klépierre’s liquidity profile to raise it from “adequate” to “solid”. This decision by the rating agency comes after the finalization of the acquisition of RomaEst, one of the largest shopping centers in Rome, the second external growth operation of the year for the real estate specialist in the sector. On May 24, 2024, Fitch confirmed its ‘A-‘ rating with stable outlook on Klépierre’s senior unsecured debt.
S&P Global expects the company to improve its debt-to-Ebitda ratio to 7.5 or lower, thanks to its strong operating results and prudent financial policies.
The positive outlook indicates that the rating agency could upgrade the rating in the next 12 to 24 months if Klépierre’s operational performance remains strong, if its portfolio valuations remain relatively stable and if the company does not resort to oversized acquisitions financed by debt beyond our base case.
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