S&P gives Diok B, notes B-

S&P said it assigned a B rating to Diok Real Estate AG and a B- rating to its senior unsecured notes due 2023.

Diok owns and runs an office property portfolio worth about €205 million as of year-end 2019 (€257 million including acquisitions to be closed in second-quarter 2020), the agency said.

“We consider that the company’s portfolio can generate sustainable EBITDA and cash flow over the next 12 months, supported by its focus on midsize cities in secondary locations in Germany,” S&P said in a press release.

The outlook is stable.

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