S&P rates Residomo, notes BB-

S&P said it assigned a preliminary BB- long-term corporate credit rating to Residomo s.r.o. and assigned a preliminary BB- issue rating to the €680 million proposed senior secured notes.

The outlook is stable.

The agency said the rating reflects the company’s limited portfolio size, average asset quality, geographic concentration and relatively substantial leverage.

These are somewhat offset by Residomo being one of the largest residential property companies in Central and Eastern Europe, its resilient presence in a fragmented market, stable operating margins and improving occupancy, S&P added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.