Moody’s affirms NEPI Rockcastle’s Baa3 long-term credit rating and changes outlook to stable
NEPI Rockcastle plc
Incorporated and registered in the Isle of Man
Registered number 014178V
JSE share code: NRP
Euronext share code: NRP
("NEPI Rockcastle" or "the Company")
MOODY'S AFFIRMS NEPI ROCKCASTLE'S BAA3 LONG-TERM CREDIT RATING AND CHANGES OUTLOOK TO STABLE
Moody's Investors Service ("Moody's") has affirmed NEPI Rockcastle's long-term credit rating and senior unsecured
rating at 'Baa3' and changed the outlook from positive to stable.
The rating reflects, among others, the good quality of the Group's shopping centres, as illustrated by their consistently
high occupancy and strong like-for-like rental growth, and the favourable macroeconomic fundamentals across the
Central and Eastern European countries where the Group is present. The rating is also underpinned by the Company's
track record of moderate debt metrics.
The change of outlook to stable from positive reflects the agency's view that the Company's liquidity management
needs to strengthen. Moody's also note that "the Company's debt metrics remain strong for the rating and that its
investment needs are currently more than covered by internally generated funds".
The report issued by Moody's is available on the Company's website, https://nepirockcastle.com/wp-
This announcement is for information purposes only.
For further information please contact:
NEPI Rockcastle plc
Mirela Covasa +40 721 371 100
Java Capital +27 11 722 3050
Euronext Listing Agent
ING Bank +31 20 563 6799
18 December 2018
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