Moody's rates Gecina Baa3

Moody's Investors Service said it assigned Gecina SA a first-time long-term issuer rating of Baa3.

The outlook is stable.

The rating reflects the size and quality of Gecina's property portfolio, which benefits from having an active internal property management team and produces a strong, recurring rental income stream that is underpinned by medium- to long-term leases, rent indexation clauses and low overall vacancy rates, Moody's said.

The rating also considers management's policy to control the size and risk of its development program, the agency said.

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