S&P shifts Unibail-Rodamco-Westfield view to negative

S&P said it revised the outlook for Unibail-Rodamco-Westfield to negative from stable.

“We revised our outlook on URW to negative because its operating performance showed signs of weakening during the first half of 2019 amid the difficult conditions in European retail markets. Until now, URW has been able to outperform the market, thanks to its large, globally diverse portfolio of prime property assets valued at €65.0 million as of June 30, 2019. However, we believe that, despite its resilience in previous years, URW may not remain immune to structural changes in the retail industry,” said S&P in a press release.

The agency affirmed the company’s A rating.

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