UPDATE TO PLAZA CENTERS CREDIT RATING

RNS Number : 3555K

Plaza Centers N.V.

20 August 2012

 



20 August 2012

MIDROOG LTD, AN AFFILIATE OF MOODY'S INVESTORS SERVICE

UPDATES CREDIT RATING FOR PLAZA CENTERS' NOTES

Plaza Centers N.V. ("Plaza" or the "Company"), a leading emerging markets property developer, today announces that MIDROOG Ltd., the Israeli Credit Rating Agency and an affiliate of Moody's Investors Service ("Midroog"), has updated the rating of Plaza's two Israeli listed series of Notes to "Baa1/Negative" on a local Israeli scale.

As reported on 21 May, 2012, S&P Maalot ("Maalot"), the Israeli credit rating agency which is a division of International Standard & Poor's, has updated the credit rating of Plaza's two Israeli listed series of Notes from "ilBBB+/Negative" to "ilBBB+/Stable" on a local Israeli scale.

A full copy Midroog's report is available at:

http://www.plazacenters.com/index.php?p=financial_reports_2012

 (Currently in Hebrew; an English translation will be available shortly).

For further details please contact

Plaza

Ran Shtarkman, President and CEO                                           [phone]

Roy Linden, CFO                                                                       [phone]

FTI Consulting

Stephanie Highett / Daniel O'Donnell                                          [phone]

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is a leading emerging markets developer of shopping and entertainment centres. It focuses on constructing new centres and, where there is significant redevelopment potential, redeveloping existing centres in both capital cities and important regional centres. The Company is dual listed on the Main Board of the London Stock Exchange and, as of 19 October 2007, on the Warsaw Stock Exchange (LSE:"PLAZ", WSE: "PLZ/PLAZACNTR"). Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States. Plaza Centers is a member of the Europe Israel Group of companies which is controlled by its founder, Mr Mordechay Zisser. It has been active in real estate development in emerging markets for over 16 years.

 

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