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Moody’s gives Prime-2 to ADO
Moody's Investors Service said it assigned a Prime-2 (P-2) short-term issuer rating to ADO Properties SA.
ADO's Baa2 long-term issuer rating, Baa2 senior unsecured domestic currency bond ratings and stable outlook are unchanged.
Moody’s said the P-2 short-term issuer rating reflects ADO's adequate liquidity profile supported by projected FFO between €80 million and €90 million, maintenance and growth capex of around €35 million and dividend payouts of about €26 million annually over the next two years.
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