Moody’s changes Inmobiliaria Colonial view

Moody's Investors Service said it affirmed the Baa2 long term issuer rating of Inmobiliaria Colonial Socimi SA and changed its outlook to stable from negative.

“The affirmation of Colonial's Baa2 long term issuer rating and the outlook change to stable, reflect a sustained robust operating performance supported by its leading position in the prime office markets of Paris, Madrid and Barcelona, cities that benefit from favorable economic environment and positive momentum of its key occupier and investment markets,” Ana Luz Silva, an associate vice president analyst at Moody's and lead analyst for Inmobiliaria Colonial, said in a news release.

“Additionally we believe that the swift reduction of its leverage supported by the prompt integration of Axiare's portfolio and non-core assets disposals, together with its ample liquidity and commitment to maintain conservative financial policies will allow Colonial to successfully navigate through a potential stabilization of real estate cycle.”

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