S&P moves Deutsche Wohnen view to positive

S&P said it changed Deutsche Wohnen SE’s outlook to positive from stable and affirmed its BBB+ rating.

The revision on Deutsche Wohnen follows the same action on its parent Vonovia, after its successful closing of the takeover transaction and an €8 billion equity raise.

“Because we regard Deutsche Wohnen as a core subsidiary of Vonovia since the successful takeover, we align our ratings on Deutsche Wohnen with those on the parent,” S&P said in a press release.

The agency noted it could raise both companies’ ratings if it decreases its debt leverage further than currently expected over the next 24 months.

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