The ratings on SociThe ratings on Société Foncière Lyonnaise S.A. (SFL)--one of the five largest listed property investment companies in France and one of the 20 largest in Europe--reflect the company's ?2.5 billion unencumbered prime Paris property portfolio (valued at June 30, 2001), well diversified by property type and tenant. SFL is pursuing its strategy of increasing its exposure to the high-end office sector in Paris' central business district and gradually reducing its stake in the very low-risk sector of prime Parisian residential property. At end-September 2001, the office and town-center retail sectors represented 76% of SFL's rental income, whereas the company's former area of focus, the high-end residential Parisian market, only accounted for 18% (versus 43% three years earlier). SFL's financial policy...
Companies mentioned in this report are:
- Societe Fonciere Lyonnaise S.A.
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