S&P lifts Fonciere des Regions

Standard & Poor’s said it raised the long-term corporate credit rating on Fonciere des Regions to BBB from BBB-, along with its short-term corporate credit rating to A-2 from A-3.

The agency also said it raised the rating on the company’s ’s senior unsecured debt to BBB from BBB-.

The outlook is stable.

The upgrades reflect the company’s strong asset rotation over the past year and a view that asset allocation has consequently improved, S&P said.

This is mainly due to its growing exposure to German residential assets and long-term leased economy hotels in Europe, the agency said.

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