DGAP-News: Aroundtown Property Holdings Plc. / Key word(s): Rating/Real Estate
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS
8 December 2015.
1. Standard & Poor's Ratings Services ("S&P") assigned Aroundtown Property Holdings PLC (the "Company", "ATP") the investment grade rating 'BBB-' on its long-term corporate credit rating.
S&P assessment for ATP's business profile is supported by ATP's good scale and diversification across multiple property types as ATP's portfolio is well-balanced across asset types and regions in Germany. Further support for S&P's assessment is the long lease structure of ATP's portfolio with no tenant dependency. S&P acknowledges ATP's successful growth strategy and the management track record of acquiring underperforming assets and successfully lifting occupancy and rent levels.
The Standard & Poor's Ratings Services Research Update on the Company is available on the Company's website:
2. The Company is considering, subject to market conditions, to raise funds through a placement to professional investors by issuing bonds and/or convertible bonds (the "Bonds").
About the Company
Aroundtown Property Holdings PLC (trading symbol: AT1 on Frankfurt Stock Exchange/Xetra; ALATP on Euronext) is a specialist real estate company focused on value-add income generating properties primarily in the German real estate markets. For the 9 months ending 30 September 2015, the Company reported an adjusted EBITDA of EUR103 million (YOY increase of 148%) and a net profit of EUR751.3 million (YOY increase of 228%). Total EPRA NAV as of 30 September 2015 amounts to EUR2.85 billion. The Company's adjusted EBITDA annualized run rate as of January 2016 (January*12) amounts to EUR208 million. FFO I run rate for January 2016 annualized (January*12) is EUR130 million.
Further information: www.aroundtownholdings.com
Aroundtown Property Holdings PLC (ISIN: CY0105562116) is a public limited liability company incorporated under the laws of Cyprus, having its registered office at 2 Faros Avenue Spyros Thalassines Alkyonides, 7560 Pervolia, Larnaca, Cyprus (registered number HE148223).
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.