Moody’s gives CA Immobilien bond Baa2

Moody's Investors Service said it assigned a Baa2 rating to the planned 7.5-year senior unsecured bond with a sub-benchmark volume of below €300 million to be issued by CA Immobilien Anlagen AG.

The Baa2 issuer rating is unchanged and the outlook is stable.

The bond will rank pari passu with all other existing and future senior unsecured obligations, Moody’s said.

"CA Immo's planned bond issuance is credit positive because it will lengthen the debt maturity profile, further diversify sources of funding by increasing unsecured borrowing, and increase unencumbered assets as some of the proceeds will be used to refinance secured debt,” Ramzi Kattan, Moody's vice president, senior analyst and lead analyst for the company, said in a news release.

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