Fitch turns Hammerson outlook to stable

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

“The revision of the outlook reflects reduced downside risk of lower rents in U.K. shopping centers (SCs) within Hammerson's portfolio after a cumulative reset in lfl (like for like) lower passing rent by around -25% since end-2018, accelerated by secular retail changes, tenant insolvencies and lease expiries,” the agency said in a press release.

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