S&P affirms Demire

S&P said it affirmed its BB long-term issuer credit rating on Demire Deutsche Mittelstand Real Estate AG.

The outlook remains stable.

The agency also affirmed the BB+ issue rating on the company's senior unsecured debt. The 2 recovery rating continues to indicate an expectation of 70%-90% (rounded estimate: 85%) recovery prospects in the event of a payment default.

S&P said the affirmation follows the recent change of Demire's ownership.

“We continue to believe that there is only a limited risk of a major shift in the company's strategy,” the agency said in a news release.

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