NEPI ROCKCASTLE PLC - Moodys affirms NEPI Rockcastles Baa3 long-term credit rating and changes outlook to stable

Release Date: 18/12/2018 17:45
Code(s): NRP
Wrap Text
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 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,

This announcement is for information purposes only.

For further information please contact:

NEPI Rockcastle plc
Mirela Covasa                                                +40 721 371 100

JSE sponsor
Java Capital                                                 +27 11 722 3050

Euronext Listing Agent
ING Bank                                                     +31 20 563 6799

18 December 2018

Date: 18/12/2018 05:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story