Fitch confirms that Viceroy Report is neutral to NEPI Rockcastle’s rating
NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
JSE and Euronext share code: NRP
("NEPI Rockcastle" or “the Company")
FITCH CONFIRMS THAT VICEROY REPORT IS NEUTRAL TO NEPI ROCKCASTLE'S RATING
Following S&P Global Ratings' confirmation of NEPI Rockcastle's BBB/Stable/-- rating in response to the
publication of a report on NEPI Rockcastle by Viceroy Research (the "Viceroy Report"), Fitch Ratings
("Fitch") on 4 December 2018 confirmed that it views the allegations in the Viceroy Report as unsubstantiated
and therefore neutral to the Company's BBB/stable rating.
Referencing its 31 October 2018 affirmation of NEPI Rockcastle's ratings, Fitch notes: "Despite rapid growth,
the company has maintained a conservative financial profile with sound liquidity and a high degree of financial
flexibility […]. The Stable Outlook reflects our expectations that NEPI Rockcastle will continue its expansion,
while maintaining its conservative financial profile, by funding through a combination of debt and equity."
The complete text of the Fitch announcement can be accessed at https://nepirockcastle.com/wp-
For further information please contact:
NEPI Rockcastle plc
Alex Morar +40 21 232 1398
Media relations +44 20 7404 5959 / + 27 11 502 7300
Brunswick Group LLP NEPI@brunswickgroup.com
Java Capital +27 11 722 3050
Euronext Listing Agent
ING Bank +31 20 563 6799
5 December 2018
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