Gecina rated A- by Standard & Poor’s
The rating agency has recognized the Group’s solid financial ratios, particularly the EBITDA interest coverage ratio and loan-to-value, brought back down to less than 40% one year after Eurosic’s acquisition.
Standard & Poor’s also reported that the positive trends observed on the office markets in Paris, where Gecina has a strong presence, are expected to contribute to the Group’s future performance and continued improvements in the quality of its portfolio.
Gecina’s long-term ratings with Standard & Poor’s (A- outlook stable) and Moody’s (A3 outlook stable) are now at the same level and have made steady progress since it returned to investment grade in October 2010, highlighting the significant work carried out by the Group to improve its liability structure.
“We are particularly proud of this improvement in our rating that positions Gecina in line with the best global ratings. This has been achieved thanks to the work accomplished by our teams over the last few years, in terms of not only strengthening and optimizing our financial structure, but also rationalizing our portfolio, particularly since Eurosic’s acquisition”, confirms Méka Brunel, Chief Executive Officer.
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