Fitch cuts Atrium European

Fitch Ratings said it downgraded Atrium European Real Estate Ltd.'s senior unsecured and long-term issuer default ratings to BB- from BB+.

The outlook on the long-term issuer default rating is negative. The short-term issuer default rating was affirmed at B.

The downgrade reflects concern that the deteriorating economic environment in Central and Eastern Europe will lead to greater negative pressure on Atrium's tenant portfolio and ultimately its rental income, according to the agency.

Ratings are supported at their current level by the company's liquidity position and significant covenant headroom, the agency said.

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