SFL's Credit Rating Upgraded to BBB+
October 30 2017 - 01:35PM
Business Wire
Regulatory News:
SFL (Paris:FLY):
Rating agency Standard & Poor’s has announced the upgrade of
SFL’s long-term credit rating to BBB+ with a stable outlook. SFL
had previously been rated BBB, with an outlook revised to positive
on 19 April 2017.
Standard & Poor’s noted that the upgrade was triggered by a
fresh improvement in SFL’s financial risk profile in view of the
fact that the leverage ratio (debt/debt plus equity) is expected to
remain substantially below 40% and the interest cover ratio at no
less than 3.5x.
SFL’s rating also continues to factor in the company's
high-quality asset portfolio, given its strong concentration of
properties in the Central Business District – the most resilient
segment in the Paris market – and its 96% occupancy rate.
About SFL
Leader on the prime segment of the Parisian tertiary real estate
market, Société Foncière Lyonnaise stands out for the quality of
its property portfolio, which is valued at €5.7 billion and is
concentrated on the Central Business District of Paris
(#cloud.paris, Edouard VII, Washington Plaza, etc.), and
for the quality of its client portfolio, which is composed of
prestigious companies in the consulting, media, digital, luxury,
finance and insurance sectors.
Stock market: Euronext Paris Compartment A – Euronext Paris ISIN
FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P rating: BBB+ stable outlook
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171030005930/en/
SFLThomas Fareng, +33 (0)1 42 97 27
00t.fareng@fonciere-lyonnaise.comorGalivel &
AssociésCarol Galivel/Doriane Fougères, +33 (0)1 41 05 02
02galivel@galivel.comwww.fonciere-lyonnaise.com
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