S&P ups Vesteda Residential

S&P said it raised Vesteda Residential Fund FGR and its senior unsecured debt ratings to A-.

“Our rating action follows Vesteda's strong track record of financial discipline with very low leverage over the past six years. The company has a publicly stated financial policy of maintaining a net debt to total assets (excluding IFRS 16) ratio of less than 30%. This is in line with the adjusted ratio of debt to debt plus equity, which has been less than 30% on average since 2015 (24.7% as of Dec. 31, 2020),” S&P said in a press release.

The outlook is stable.

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