REG - Globalworth Real Est - S&P - revisions to credit rating and outlook

Globalworth Real Estate InvestmentsAnnouncement

21/03/2025 15:15

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RNS Number : 7321B  Globalworth Real Estate Inv Ltd  21 March 2025

FOR IMMEDIATE RELEASE

 

21 March 2025

 

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

 

S&P - revisions to credit rating and outlook

 

Globalworth, the leading office investor in Central and Eastern Europe, hereby
acknowledges that Standard & Poor's ("S&P")
has revised Globalworth's long-term issuer credit rating to 'BB' with a
Stable outlook (from 'BB+' with a Negative outlook), and its issue rating on
its senior unsecured bonds to 'BB-' from 'BB' citing a low interest coverage
ratio.

The Company remains committed to implementing strategic initiatives aimed at
optimising its existing property portfolio and operational efficiencies to
improve its interest cover ratio over time.

 

Enquiries

 Rashid Mukhtar                                   Tel: +40 732 800 000

 Group CFO

 Panmure Liberum (Nominated Adviser and Broker)   Tel: +44 20 7886 2500

 Atholl Tweedie

 

About Globalworth / Note to Editors:

Globalworth is a listed real estate company active in Central and Eastern
Europe, quoted on the AIM-segment of the London Stock Exchange. It has become
the pre-eminent office investor in the CEE real estate market through its
market-leading positions both in Poland and Romania. Globalworth acquires,
develops and directly manages high-quality office properties in prime
locations, generating rental income from reputed tenants from around the
globe. Managed by over 250 professionals across Cyprus, Guernsey, Poland and
Romania the combined value of its portfolio is €2.6 billion, as at 31
December 2024. Approximately 98.5% of the portfolio is in income-producing
assets, predominately in the office sector, and leased to a diversified array
of over 650 national and multinational corporates. In Poland Globalworth is
present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in
Romania its assets span Bucharest, Constanta and Craiova.

For more information, please visit www.globalworth.com
(http://www.globalworth.com) and follow us on Facebook, Instagram and
LinkedIn.

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