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S&P Raises Unibail's Rtgs to 'A/A-1'; Otlk Stable Oct 98
Standard & Poors, October 1998
PARIS -- Standard & Poor's CreditWire 10/14/98 -- Standard & Poor's today raised its long-term rating on Unibail to single-'A' from single-'A'-minus and its short-term rating on the company to 'A-1' from 'A-2'. The outlook has been changed to stable from positive. Unibail's ratings primarily reflect the company's strong position in the French property market and, in particular, in the large shopping mall segment, which Standard & Poor's views as a relatively strong section of the property market. Shopping malls generate steady and secure cash flows indexed to the general economy, and average yields of close to 8%. Unibail has key holdings in four of the eight biggest French malls. Unibail's ratings also reflect the company's successful approach to the...
Companies mentioned in this report are: Unibail-Rodamco
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
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