S&P: Aroundtown notes BBB-

Standard & Poor’s said it assigned a BBB- long-term issue rating to the proposed senior unsecured notes of up to €500 million to be issued by Aroundtown Property Holdings plc.

The issue rating is equalized with the company’s long-term corporate credit rating because the group’s share of net operating income from encumbered assets will be less than 50%, including the 35% consolidated share of the debt of Grand City Properties, the agency said.

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