Moody’s rates CPI, notes Baa3

Moody's Investors Service said it assigned a Baa3 long-term issuer rating to CPI Property Group.

At the same time, the agency assigned a prospective Baa3 rating to the company's €1.25 billion medium-term note program and a Baa3 rating to the planned senior unsecured notes of around €500 million that will be issued under the program.

The outlook is stable.

“CPI Property Group's Baa3 rating reflects its dominant position as the leading real estate player in the Czech Republic, and its solid well diversified portfolio located in strong macroeconomic environments with favorable property market fundamentals,” Ramzi Kattan, Moody's vice president, senior analyst and lead analyst for CPI, said in a news release.

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