Moody’s lifts Globalworth

Moody's Investors Service said it assigned a Baa3 long term issuer rating for Globalworth Real Estate Investments Ltd.

Concurrently, Moody's upgraded to Baa3 from Ba1 the rating on the outstanding €550 million senior notes due 2022 and €550 million euro medium-term notes maturing 2025.

The outlook was changed to stable from positive.

Moody's also withdrew Globalworth's corporate family rating of Ba1 following its upgrade to Baa3, as per the agency's practice for corporates with investment grade ratings.

“The upgrade to Baa3 with a stable outlook reflects an improved business profile supported by Globalworth's successful expansion of its real estate operations into Poland (A2, stable), a market benefitting from a positive economic environment and strong property market fundamentals,” the agency said in a news release.

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