Fitch revises Hammerson view to negative

Fitch Ratings said it revised the outlook on Hammerson plc to negative from stable and affirmed the issuer rating at BBB and senior unsecured debt rating at BBB+.

“The negative outlook reflects the downside risk facing Hammerson as it is concentrated in retail sector assets including sizeable shopping centers, unsold U.K. retail parks, but with some diversity to French and Irish retail assets and premium outlets. Coronavirus events are weakening retailers and bringing forward their decisions on shedding surplus expensive space and social distancing will adversely affect the productivity of retail stores. There is a disconnect between existing contractual commitments to rent space and foreseeable requirements for retailers,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.