Tritax EuroBox Fitch outlook revised up to Stable

Tritax EuroBox PLC

22 February 2024

 

Tritax EuroBox investment grade rating affirmed; outlook revised upwards to Stable

Tritax EuroBox plc (the "Company"), which invests in Continental European logistics real estate assets, announces that Fitch Ratings ("Fitch") has revised the Company's outlook to Stable from Negative. Fitch has also affirmed the Company's Long-Term Issuer Default Rating at 'BBB-', and affirmed its senior unsecured debt rating at 'BBB'.

Fitch press release

According to Fitch, the drivers behind its outlook analysis include the logistics asset class's fundamentals, the Company's disposal programme and asset portfolio, plus yield dynamics and demand/supply metrics.

Fitch's commentary on this rating action can be accessed via the following link:

https://www.fitchratings.com/research/corporate-finance/fitch-revises-tritax-eurobox-outlook-to-stable-affirms-idr-at-bbb-senior-unsecured-at-bbb-21-02-2024

Company commentary

Mehdi Bourassi, Chief Financial Officer to Tritax EuroBox plc, commented:

"The affirmation of the Company's investment grade rating, and restoration to a stable outlook, underlines the good progress made on the sales of selected assets at, or close to, book value, and overall resilience of the portfolio. The Company will continue its disposal programme through FY24 and remains committed to maintaining an investment grade rating."

Further information

Tritax EuroBox plc

[phone]
Phil Redding - CEO

Mehdi Bourassi - CFO

Charles Chalkly - Investor Relations

Kekst CNC (Media enquiries)

Tom Climie / Guy Bates
[phone] / [phone]
[e-mail]

Notes:

Tritax EuroBox plc invests in and manages a well-diversified portfolio of Continental European logistics real estate. These assets fulfil crucial roles in logistics and distribution supply chains, and are located in established logistics markets near major population centres across core Continental European countries.

Our high-quality portfolio is highly sustainable, offers predictable and predominantly inflation-linked income and has opportunities for capital growth through active asset management. These attributes underpin our ability to generate attractive returns for Shareholders over the long term.

The Manager, Tritax Management LLP, has assembled a full-service, pan-European capability for the Company, combining in-house leadership and strategic expertise with close partnerships with leading European developers and asset managers.

The Manager comprises a skilled, diverse team of real estate professionals with expertise across investment, asset management, development, finance, business analysis, research and communications. This is supplemented with specialist, on-the-ground developers, and asset and property managers with strong market standings in the Continental European logistics sector.

Further information on the Company is available at: tritaxeurobox.co.uk

The Company's LEI is: 213800HK59N7H979QU33.

 

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