Moody’s views Globalworth negatively

Moody's Investors Service said it changed its outlook for Globalworth Real Estate Investments Ltd. to negative from stable and affirmed its Baa3 long-term issuer rating and the Baa3 senior unsecured ratings on its €550 million-euro medium-term notes maturing 2025 and its €400 million-euro MTNs maturing 2026.

“The negative outlook reflects the weak positioning of the rating in a materially weaker operating environment for commercial real estate companies across Europe because of sharply rising interest rates, strained access to public debt and equity capital markets, and concerns over the stability of property values and in general the sector's ability to reduce debt via property disposals,” Moody’s said in a press release.

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