S&P affirms Fonciere des Regions

S&P said it affirmed its BBB long-term and A-2 short-term issuer credit ratings on Fonciere des Regions.

The outlook remains stable.

At the same time, the agency affirmed the BBB rating on the group's senior unsecured debt.

S&P said the affirmation follows the company’s announcement that it has initiated discussions with Beni Stabili, its 52.4%-owned subsidiary and leading office real estate investment trust in Milan, regarding a potential business combination.

“We foresee limited impact on FDR's business risk profile from the merger with Beni Stabili, which is already majority-owned and fully consolidated within the group,” the agency said in a news release.

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