Klépierre upgraded to “ A − ” by S&P
Klépierre today announced that Standard & Poor’s (S&P) upgraded the company’s credit rating to “A−” (stable outlook).
The credit rating agency specified that the upgrade was a testament to the company’s “solid asset base with strong cash flow generation capabilities, prudent financial policy, and financial flexibility which have proven to be successful as the company outperformed S&P’s base case.”
S&P also assumes that Klépierre will be able to pursue asset acquisitions, with a significant headroom for further debt-funded accretive investments.
Fitch having confirmed its “A−” rating with a stable outlook on the senior unsecured debt, Klépierre is at the best level of credit rating in the European listed real estate universe.
Stéphane Tortajada, Chief Financial Officer, and member of the Executive Board declared: “After our betterthan- expected 2024 results marked by the return of property value increases, this credit rating upgrade confirms that we have opened a new chapter of growth. It is also a testament to Klépierre’s operating excellence and the effectiveness of its strategy which has financial discipline at its heart.”