Credit rating upgrade

RNS Number : 3190W

Globalworth Real Estate Inv Ltd

16 April 2019

 

16 April 2019

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

Credit rating upgrade to investment grade by Moody's

Globalworth, the leading office investor in Central and Eastern Europe, is pleased to announce that Moody's Investors Service, the international credit rating agency, has upgraded the Company's issuer credit rating to Baa3 from Ba1.

Dimitris Raptis, Deputy CEO and Chief Investment Officer of Globalworth, commented: "This decision means that Globalworth now enjoys investment grade ratings from all three agencies (Moody's, S&P and Fitch) covering our bonds. Alongside our €500 million equity issuance completed last week, this reflects the excellent progress made in recent years in accessing the public capital markets and delivering scale to our business".

For further information visit www.globalworth.com or contact: 

Enquiries

Andrew Cox                                                                                                                      Tel: [phone]

Head of Investor Relations & Corporate Development  

Jefferies (Joint Broker)                                                                                                     Tel: [phone]

Stuart Klein

Panmure Gordon (Nominated Adviser and Joint Broker)                                          Tel: [phone]

Alina Vaskina/Justin Gulston

Milbourne (Public Relations)                                                                                           Tel: [phone]

Tim Draper

About Globalworth / Note to Editors: 

Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange.  It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland, where the Company has a majority shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange.  Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by nearly 200 professionals across Romania and Poland, the combined value of its portfolio is in excess of €2.5 billion, as at 31 December 2018 including subsequent acquisitions. Over 90% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 650 national and multinational corporates. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please visit www.globalworth.com  and follow us on Facebook, Instagram and LinkedIn.

 

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