18th May 2020 10:09
(Alliance News) - Globalworth Real Estate Investments Ltd on Monday noted that credit agencies S&P Global Ratings and Fitch Ratings have maintained the company's issuer credit ratings at BBB- with a Stable outlook.
S&P said on Friday that the ratings were driven by the real estate firm's large portfolio of modern office properties in Poland and Romania, the stability of its recurring rental income from a multinational tenant, and a strong financial profile.
The credit agency noted that Globalworth has lowered its development capital expenditure and acquisitions substantially, and it plans to cut its administrative expenses in response to the negative market outlook.
Shares in Globalworth Real Estate were untraded on Monday in London, last quoted at EUR5.95.
By Dayo Laniyan; [email protected]
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