Moody’s rates Atrium, notes Baa3

Moody's Investors Service said it assigned a Baa3 long-term issuer rating to Atrium European Real Estate Ltd.

At the same time, the agency assigned a Baa3 rating to the company's planned €300 million to €350 million senior unsecured notes issuance.

The outlook is positive.

"Atrium's Baa3 rating reflects its solid portfolio mostly located in strong macroeconomic environments with favorable property market fundamentals," Ramzi Kattan, Moody's vice president, senior analyst and lead analyst for Atrium, said in a news release.

The Baa3 rating further reflects the company's strong market position as one of the leading Central and Eastern Europe (CEE) shopping center operators with a good management track record of maintaining cash flows and values in a fast-changing retail landscape, the agency explained.

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