Cityconilla on kaksi investointitason luottoluokitusta.
||Näkymä||Alkaen||Viimeisin muutos luokituksessa||Viimeisin raportti (englanninkielinen)|
|Standard & Poor's
||4.3.2019||SP Credit Opinion Update 4 March 2019
||Baa3||Vakaa||16.5.2013||29.4.2019||Moody's Credit Opinion Update 29 April 2019|
Standard & Poor's
”Because its portfolio lost value and the company disposed less assets than we forecast, it missed its loan-to-value (LTV) target of 45% and our 50% debt-to-debt-plus-equity ratio guidance for maintaining the rating. We expect the challenging market conditions to prevail and the debt-to-debt plus equity ratio to remain sustainably above 50%. We are therefore lowering our ratings on the company to 'BBB-/A-3' and our rating on its senior unsecured notes to 'BBB-'. The stable outlook indicates that despite weakening economic trends in its key markets, we expect the company's income to prove resilient over the next 12-24 months, based on a stable occupancy rate of 96%, its additional specialty leasing, and contributions from redevelopment projects.”
“Citycon´s Baa3 long-term issuer rating primarily reflects: 1) the company's focus on necessity-driven retail, services and entertainment; 2) a significant proportion (54% of sales) of retail properties in strong and growing suburban metropolitan areas with attractive multiple forms of public transportation; 3) the geographic diversification of its property portfolio across highly rated countries including Finland, Norway and Sweden; 4) top-three market positions and franchise value in the Nordics shopping centre market; and 5) high unencumbered asset base and a diverse funding mix and consistently high occupancy above 96%.”