| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Adler Real Estate AG > News item |
S&P puts Adler Real Estate on watch
S&P said it put the ratings for Adler Real Estate AG on CreditWatch with positive implications on ADO Properties’ tender for all of Adler’s shares.
“The CreditWatch reflects the possibility that we could consider upgrading Adler by up to one notch if the transaction with ADO is completed and in line with our view of the stronger credit quality of the combined entity,” said S&P in a press release.
The agency said it believes the combined entity would benefit from a better financial profile, with lower leverage including debt to debt plus equity of close to 50% compared with Adler’s current stand-alone debt to debt plus equity of about 67% as of Sept. 30. S&P expects EBITDA interest coverage at the combined entity of 2.5x-2.7x for the next 12 months, which exceeds Adler’s current stand-alone ratio of only 1.9x as of Sept. 30.
© 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.