Credit rating agency | Moody's Investors Service
Long term issuer rating | Baa1
Outlook | Stable
Moody's assigns BAA1 rating to Wereldhave N.V.; Stable Outlook
3 February 2016
Moody's Investors Service has assigned Wereldhave N.V. a first-time long-term issuer rating of Baa1, with a stable outlook.
Robert Bolier, Wereldhave’s CFO says: “I am very pleased with this inaugural rating as it is a logical next step after completing our transformation into an operator of convenience shopping centres by disposing of non-core properties and increasing scale in key markets, whilst maintaining a conservative leverage ratio. The loan to value ratio stood at a solid 37.5% at year-end 2015, whereas the average cost of debt was 2.2% and the interest cover ratio was 5.6 times. We have moderate funding needs for the year ahead and we do not anticipate a large debt issue. The Baa1 rating however puts us in a very good position to further diversify our funding sources and to keep the cost of debt among the lowest in the sector if and when the need arises.”