NEPI ROCKCASTLE PLC - Fitch affirms NEPI Rockcastles credit rating at BBB and revises outlook from stable to positive

Fitch affirms NEPI Rockcastle’s credit rating at ‘BBB’ and revises outlook from stable to positive

NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
Share code: NRP
ISIN: IM00BDD7WV31
(“NEPI Rockcastle” or “the Group” or “the Company”)


FITCH AFFIRMS NEPI ROCKCASTLE’S CREDIT RATING AT ‘BBB’ AND REVISES OUTLOOK FROM STABLE TO POSITIVE


Fitch Ratings (“Fitch”) has reaffirmed NEPI Rockcastle’s credit rating at ‘BBB’ and revised the outlook from
stable to positive.

The rating reflects Fitch’s view that the Group has a long record of a conservative financial profile, and that
NEPI Rockcastle’s portfolio of regionally dominant shopping centres is well positioned to benefit from
dynamic, post-pandemic retail sales growth in CEE countries. The revised outlook was underpinned by stable
cash flow leverage, tenants’ sales recovery, high occupancy levels, strong rent collection rates and increasing
footfall, despite the continuously challenging environment. Furthermore, the Group’s credit ratios and
liquidity remain strong, benefitting from a high unencumbered asset base and limited development risk.

“The revision of the rating outlook from stable to positive acknowledges the strengths of our portfolio and
financial strategy, especially when faced with challenging circumstances. Our continuous efforts and the
improving macroeconomic fundamentals contribute to a stable recovery underpinned by strong levels of
liquidity.” – Mirela Covasa, CFO.

The report issued by Fitch is available on the Company’s website:
https://nepirockcastle.com/investors/financing-activities/ratings-activities/

This announcement is for information purposes only.

For further information please contact:

NEPI Rockcastle plc
Alex Morar/Mirela Covasa                                     +44 1624 654 704

JSE sponsor
Java Capital                                                 +27 11 722 3050

Euronext Listing Agent
ING Bank                                                     +31 20 563 6685

Media Relations                                              mediarelations@nepirockcastle.com

10 November 2021

Date: 10-11-2021 03:30:00
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