SFL – Rating upgraded to BBB
July 02 2015 - 12:07PM
Business Wire
Regulatory News:
The ratings agency Standard & Poor’s announced today that it
has raised its long- and short-term credit ratings on SFL
(Paris:FLY) to BBB/A2 (previously BBB-/A3) with a stable
outlook.
S&P indicates that the leasing of the In/Out building, which
follows other recent positive letting performances including the
pre-leasing of part of #cloud.paris, improves SFL’s financial risk
profile. The agency expects that SFL’s EBITDA interest coverage
will exceed 2.4x, particularly as SFL should also benefit from the
refinancing operations conducted in late 2014 that resulted in
lower interest charges.
SFL’s rating continues to take account of the quality of its
asset portfolio, notably its strong presence in the CBD, an
occupancy rate which should stabilise around 96% and improvements
in the average duration of its leases.
ABOUT SFL:
Leader on the prime segment of the Parisian tertiary real estate
market, the Société Foncière Lyonnaise stands out for the quality
of its property portfolio, which is valued at 4.5 billion euros and
is concentrated on the Central Business District of Paris (Louvre
Saint-Honoré, Edouard VII, Washington Plaza, etc.), and for the
quality of its client portfolio, which is composed of prestigious
companies in the consulting, media, digital, luxury, finance and
insurance sectors.
STOCK MARKET:
Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409
– Bloomberg: FLY FP – Reuters: FLYP PA
S&P RATING: BBB stable outlook
www.fonciere-lyonnaise.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150702005659/en/
SFLThomas Fareng, + 33 (0)1 42 97 01
51t.fareng@fonciere-lyonnaise.com
Fly Leasing (NYSE:FLY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Fly Leasing (NYSE:FLY)
Historical Stock Chart
From Apr 2023 to Apr 2024