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
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
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
The Company's LEI is:
213800HK59N7H979QU33.