Hamburg (pta045/04.03.2021/17:40) - Hamburg, March 4, 2021 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces a rating upgrade by S&P.
Today, the rating agency S&P has announced the upgrade of alstria's financial rating from BBB to BBB+, outlook Stable.
This upgrade is due to alstria's strong financial discipline throughout 2020, with a low debt to debt plus equity ratio of 27.6% and an ICR of 4.2 as per December 31, 2020.
Besides, S&P acknowledges alstria's solid operational performance in 2020, despite a challenging market environment caused by the COVID-19 pandemic. S&P believes the company´s tenant base, with about 30% of annual rental income stemming from public tenants, also supports cash flow stability and visibility going forward.
The S&P rating update is available on alstria's website www.alstria.com/investors
alstria office REIT AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. As of December 31, 2020, the portfolio comprises 109 buildings with a lettable area of 1.4 million square meters and a total portfolio value of EUR 4.6 billion.
This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria's management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences.
The current COVID-19 outbreak is creating substantial uncertainty in the marketplace. Although alstria has diligently reviewed the information contained in this release it is based on its own analysis and estimate, as well as available public sources and not on active discussion with tenants. As such the current liquidity risk of the tenants can materially differ from alstria's own estimate, and the actual impact of the COVID 19 outbreak may differ substantially from the current previsions.
alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.(end)
|emitter:||alstria office REIT-AG|
|contact person:||alstria office REIT-AG|
|phone:||+49 40 226341-344|
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