Wereldhave updates on credit rating by Moody’s
July 22 2020 - 12:40PM
Wereldhave updates on credit rating by Moody’s
Wereldhave updates on a revised credit rating by Moody’s
Investor Service, (“Moody’s”). We want to provide more clarity on
the recent downgrade of Wereldhave N.V.’s corporate family rating
and the rating on the senior unsecured bonds to B1 from Ba2 and has
placed the ratings on review for downgrade. The outlook has changed
to ratings under review from negative.
Wereldhave understands that the downgrade by Moody’s is related
to a short dated debt maturity profile and refinancing needs.
Wereldhave recognizes that the Covid-19 pandemic has had an adverse
effect on capital markets due to increased uncertainties. This
results in longer periods for negotiating new financing deals.
Wereldhave is in active and constructive dialogues with various
lenders to extend and/or refinance debt maturities for 2021 and
beyond. Added with Wereldhave’s liquidity preservation program, the
Management Board remains confident it will be able to materially
improve its financial profile in the coming months.
- PR Wereldhave updates on Moody's rating - FINAL
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