Voluntary Update - Moody’s Investor Service (“Moody’s”) and FitchRatings annual rating updates.
Voluntary Update - Moody’s Investor Service (“Moody’s”) and FitchRatings annual rating updates.
GROWTHPOINT PROPERTIES LIMITED
(Incorporated with limited liability in the Republic of South Africa under registration number 1987/004988/06)
(Bond issuer code: GRTI)
(“Growthpoint” or the “company”)
Voluntary update - Moody’s Investor Service (“Moody’s”) and FitchRatings annual rating updates
On 27 April 2023, Moody’s Investor Services (“Moody’s”) affirmed Growthpoint Properties Limited corporate
family rating (“CFR”) of Ba2, with a stable outlook.
Moody’s has advised the rating is supported by:
1. Strong market position as the largest primary listed real estate investment trust (REIT) in South Africa;
2. Sizable, very good-quality, and diversified property portfolio;
3. Geographical diversification with exposure to Australia (Aaa stable), Central and Eastern Europe, and the
United Kingdom (Aa3 negative); and
4. Good liquidity risk management with a track record of addressing debt maturities well ahead of time.
Noteholders are referred to Moody’s credit opinion (Growthpoint Properties Limited: Update to credit analysis) for
any further information, available at www.moodys.com.
On 6 April 2023, Fitchratings (Fitch) affirmed Growthpoint Properties Limited’s Long-Term Foreign-Currency
Issuer Default Rating (“IDR”) at BB+ with a stable outlook.
Noteholders are referred to the press release by FitchRatings (Fitch Affirms Growthpoint at 'BB+'; Outlook Stable)
for any further information, available at www.fitchratings.com.
16 May 2023
Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment Bank division)
Date: 16-05-2023 01:08:00
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