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Atrium European Real Estate Limited: Fitch Ratings downgrades Atrium's rating to 'BB/Stable'

·2-min read

Atrium European Real Estate Limited / Key word(s): Rating
Atrium European Real Estate Limited: Fitch Ratings downgrades Atrium's rating to 'BB/Stable'

17-Jan-2022 / 08:44 GMT/BST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Fitch Ratings downgrades Atrium's rating to 'BB/Stable'

Ad hoc announcement - Jersey, 17 January 2022, Atrium European Real Estate Limited (VSE/ Euronext: ATRS), (the "Company" and together with its subsidiaries, the "Atrium Group" or the "Group"), a leading owner and operator of shopping centres and residential for rent properties in Central Europe, announces that Fitch Ratings has downgraded the Companies' Long- and Short-Term Issuer Default Ratings from 'BBB' to 'BB' and from 'F2' to 'B', respectively, with a stable outlook of the Long-Term Issuer Default Rating. The downgrading reflects the financial profile of the Company following Gazit Globe's acquisition of the remaining 25% shareholding in the Company.

Further information can be found on the Company's website www.aere.com or for analysts:
Molly Katz: mkatz@aere.com

Press & shareholders:
FTI Consulting Inc.: +44 (0)20 3727 1000
Richard Sunderland/Claire Turvey/Ellie Sweeney/Andrew Davis: scatrium@fticonsulting.com

About Atrium European Real Estate
Atrium is a leading owner, operator and redeveloper of shopping centres and residential for rent apartments in Central Europe. Atrium specializes in locally dominant food, fashion and entertainment shopping centres in the best urban locations. Atrium owns 26 properties with a total gross leasable area of over 809,000 sqm and with a total market value of approximately €2.5 billion. These properties are located in Poland, the Czech Republic, Slovakia and Russia, and with the exception of one, are all managed by Atrium's internal team of retail real estate professionals. In February 2020 Atrium announced a strategy to diversify its portfolio by investing in and managing residential for rent real estate, with a primary focus on Warsaw.

The Company is established as a closed-end investment company incorporated and domiciled in Jersey and regulated by the Jersey Financial Services Commission as a certified Jersey listed fund, and is listed on both the Vienna Stock Exchange and the Euronext Amsterdam Stock Exchange. Appropriate professional advice should be sought in the case of any uncertainty as to the scope of the regulatory requirements that apply by reason of the above regulation and listings. All investments are subject to risk. Past performance is no guarantee of future returns. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.

17-Jan-2022 GMT/BST News transmitted by EQS Group AG. www.eqs.com

Language:

English

Company:

Atrium European Real Estate Limited

11-15 Seaton Place

JE4 0QH St. Helier

Jersey Guernsey

ISIN:

JE00B3DCF752

WKN:

A0X963

Listed:

Amsterdam, Vienna Stock Exchange (Official Market)

EQS News ID:

1269200


 

End of Announcement

EQS News Service

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