Issue ratings assigned to proposed notes

RNS Number : 8909B

Summit Germany Limited

15 January 2018

 

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Summit Germany Limited

(the "Company")

BBB- / Ba1 issue ratings assigned to proposed senior unsecured notes by S&P Global Rating

and

Moody's Investors Service respectively

15 January 2018

Summit Germany Limited, the AIM-listed German commercial property investment company, is pleased to announce that it has obtained a BB+ Credit Rating from S&P Global Rating and a Ba1 Corporate Family Rating by Moody's Investors Service, while proposed senior unsecured notes were assigned with BBB- / Ba1 ratings from S&P Global Rating and Moody's Investors Service, respectively. The rating agencies' assessment of the Company's business profile is supported by a well-diversified commercial portfolio focused solely in Germany and its large tenant base. Further support for the credit rating assessment is the good cash flow generation leading to a strong fixed charge coverage as well as a positive track record in active property management.

The Rating reports are available on the Company's website www.summitgermany.com.            

For further information please contact:

Summit Germany Limited	Tel: [phone]
Zohar Levy - Managing Director
Itay Barlev (Braun) - Finance Director
Non-Executive Chairman	Tel: [phone]
Harry Hyman
Carey Group, Company Secretary	Tel: [phone]
Sara Bourne
Liberum Capital Limited, Nominated Adviser and Joint Broker	Tel: [phone]
Chris Clarke / Jill Li
Cenkos Securities, Joint Broker	Tel: [phone]
Mark Connelly
Russell Kerr / Selwyn Jones (Broking)

 

END

 

 

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