Moody's stabilizes Merlin Properties view

Moody's Investors Service said it changed the outlook to stable from negative and affirmed the Baa2 long-term issuer rating of Merlin Properties Socimi, SA. Moody's also affirmed the Baa2 ratings on Merlin’s senior unsecured issuances.

"The affirmation of Merlin's Baa2 long-term issuer rating reflects the company's large scale, good quality and diversified property portfolio combined with a solid financial profile. We have changed the company's outlook to stable as we expect earnings-based metrics to continue strengthening over the next six to 12 months amid improving operating environment combined with higher earnings contribution from its logistics portfolio. The stable outlook is further supported by management's solid operational execution and commitment to conservative financial policies," said Ana Luz Silva, a Moody's vice president, senior analyst and lead analyst for Merlin Properties, in a press release.

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