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Atrium European Real Estate 'BB-/B' Ratings Affirmed On Completed Share Exchange; Outlook Stable Dec 09
Standard & Poors, Dec 2009
Abstract
Jersey-based Atrium European Real Estate Ltd. has announced the completion of the exchange into shares of the convertible bond it issued to Citi Property Investors and Gazit Globe Ltd. We believe the transaction's completion removes short-term downside risks for Atrium, notably on liquidity and financial flexibility. We are affirming the 'BB-/B' long- and short-term ratings on Atrium. The stable outlook reflects enhanced visibility on the company's future operating performance and capital structure. PARIS (Standard & Poor's) Dec. 9, 2009--Standard & Poor's Ratings Services today said it has affirmed its 'BB-/B' long- and short-term corporate credit ratings on Jersey-based property company Atrium European Real Estate Ltd. The outlook is stable. At the same time, we removed the ratings from CreditWatch with...
Companies mentioned in this report are: Atrium European Real Estate Ltd.
Action: Affirmed
Action: Outlook: Stable
Action: Removed From CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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