REG - Tritax EuroBox PLC Tritax EuroBox -BOXE - Tritax EuroBox Fitch outlook revised up to Stable

Tritax EuroBoxAnnouncement

22/02/2024 07:00

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RNS Number : 0730E  Tritax EuroBox PLC  22 February 2024

Tritax EuroBox investment grade rating affirmed; outlook revised upwards to
Stable

Tritax EuroBox plc (the "Company"), which invests in Continental European
logistics real estate assets, announces that Fitch Ratings ("Fitch") has
revised the Company's outlook to Stable from Negative. Fitch has also affirmed
the Company's Long-Term Issuer Default Rating at 'BBB-', and affirmed its
senior unsecured debt rating at 'BBB'.

 

Fitch press release

According to Fitch, the drivers behind its outlook analysis include the
logistics asset class's fundamentals, the Company's disposal programme and
asset portfolio, plus yield dynamics and demand/supply metrics.

 

Fitch's commentary on this rating action can be accessed via the following
link:

https://www.fitchratings.com/research/corporate-finance/fitch-revises-tritax-eurobox-outlook-to-stable-affirms-idr-at-bbb-senior-unsecured-at-bbb-21-02-2024
(https://www.fitchratings.com/research/corporate-finance/fitch-revises-tritax-eurobox-outlook-to-stable-affirms-idr-at-bbb-senior-unsecured-at-bbb-21-02-2024)

 

Company commentary

Mehdi Bourassi, Chief Financial Officer to Tritax EuroBox plc, commented:

"The affirmation of the Company's investment grade rating, and restoration to
a stable outlook, underlines the good progress made on the sales of selected
assets at, or close to, book value, and overall resilience of the portfolio.
The Company will continue its disposal programme through FY24 and remains
committed to maintaining an investment grade rating."

 

 

Further information

Tritax EuroBox plc

+44 (0) 20 8051 5070

Phil Redding - CEO

Mehdi Bourassi - CFO

Charles Chalkly - Investor Relations

 

Kekst CNC (Media enquiries)

Tom Climie / Guy Bates

+44 (0) 7760 160 248 / +44 (0) 7581 056 415
tritax@kekstcnc.com (mailto:tritax@kekstcnc.com)

 

Notes:

Tritax EuroBox plc invests in and manages a well-diversified portfolio of
Continental European logistics real estate. These assets fulfil crucial roles
in logistics and distribution supply chains, and are located in established
logistics markets near major population centres across core Continental
European countries.

Our high-quality portfolio is highly sustainable, offers predictable and
predominantly inflation-linked income and has opportunities for capital growth
through active asset management. These attributes underpin our ability to
generate attractive returns for Shareholders over the long term.

The Manager, Tritax Management LLP, has assembled a full-service, pan-European
capability for the Company, combining in-house leadership and strategic
expertise with close partnerships with leading European developers and asset
managers.

The Manager comprises a skilled, diverse team of real estate professionals
with expertise across investment, asset management, development, finance,
business analysis, research and communications. This is supplemented with
specialist, on-the-ground developers, and asset and property managers with
strong market standings in the Continental European logistics sector.

Further information on the Company is available at: tritaxeurobox.co.uk
(http://www.tritaxeurobox.co.uk)

The Company's LEI is: 213800HK59N7H979QU33.

 

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