Moody's assigns BAA1 rating to Wereldhave N.V.; Stable Outlook

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.”

The press release as issued by Moody’s can be found by using the link below.

Moodys assigns Baa1 rating to Wereldhave NV

Press Release: Baa1 rating