Fitch assigns Klepierre BBB+, notes A-

Fitch Ratings said it assigned Klepierre SA a first-time long-term issuer default of BBB+ and senior unsecured rating of A-.

The outlook is stable.

“Klepierre's ratings reflect its geographically diverse 70+ quality shopping center (SC) portfolio spanning 12 continental European economies with a variety of different-sized malls. Established as community hubs, with regularity of footfall and relevance to local price points, its occupancy (end-2022: 96%) and year-on-year rent increases have been steady and remain affordable to tenants,” Fitch said in a press release.

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