Gecina: Moody’s upgrades its rating to Baa2, outlook stable
PARIS -- November 05, 2012
Moody’s has upgraded its rating for Gecina (Paris:GFC) from Baa3 (outlook
stable) to Baa2 (outlook stable), recognizing the clear improvement in the
Group's financial profile, as well as the actions carried out between 2010 and
2012 to achieve a healthier balance sheet.
When changing its rating, Moody’s reported that “the upgrade of Gecina’s
issuer rating to Baa2 reflects the company’s stronger operating performance, a
public commitment to a more prudent financial policy and improved liquidity.”
Following this announcement, Gecina’s ratings by Standard & Poor’s (BBB,
outlook stable, after being upgraded on October 17, 2012) and Moody’s are now
at the same level.
Gecina, a leading real estate group
Gecina owns, manages and develops property holdings worth 11.6 billion euros
at June 30, 2012, with 86% located in the Paris Region. This real estate
company's business is built around an Economic division, including France's
largest office portfolio, and a Demographic division, with residential assets,
student residences and healthcare facilities. Gecina has put sustainable
innovation at the heart of its strategy to create value, anticipate its
customers' expectations and invest while respecting the environment, thanks to
the dedication and expertise of its staff.
Gecina is a French real estate investment trust (SIIC) listed on Euronext
Paris, and is part of the FTSE4Good, DJSI Europe and World, Stoxx Global ESG
Leaders and ASPI Eurozone® indices. In line with its commitments to the
community, Gecina has created a company foundation, which is focused on
protecting the environment and supporting all forms of disability.
Elizabeth Blaise, + 33 (0)1 40 40 52 22
Régine Willemyns, + 33 (0)1 40 40 62 44
Armelle Miclo, +33 (0) 1 40 40 51 98
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