S&P - 'BB+' Rating affirmed

Globalworth Real Estate Inv Ltd

24 November 2023

 

FOR IMMEDIATE RELEASE

24 November 2023

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

S&P - 'BB+' Rating affirmed

Globalworth (AIM: GWI), the leading office investor in Central and Eastern Europe, hereby acknowledges that Standard & Poor's ("S&P") has affirmed Globalworth's 'BB+' long-term issuer credit and senior unsecured debt ratings while revising the outlook from stable to negative.  

Globalworth continues to uphold its robust liquidity position, and we are taking the necessary measures to meet refinancing requirements in a timely manner.

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

Enquiries
Rashid Mukhtar Deputy Chief Financial Officer	Tel: [phone]
Panmure Gordon (Nominated Adviser and Broker) Dominic Morley	Tel: [phone]

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 Poland and Romania. Globalworth acquires, develops and directly manages high-quality office and industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 250 professionals across Cyprus, Guernsey, Poland and Romania the combined value of its portfolio is €3.1 billion, as at 30 June 2023. Approximately 96.9% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 700 national and multinational corporates. In Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania its assets span Bucharest, Timisoara, Constanta, Pitesti, Arad, Oradea and Targu Mures.

IMPORTANT NOTICE: This announcement has been prepared for the purposes of complying with the applicable laws and regulations of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom. This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.

A rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

 

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