Fitch rates Globalworth notes BBB-

Fitch Ratings said it assigned a senior unsecured rating of BBB- to Globalworth Real Estate Investments Ltd.’s €1.5 billion Euro medium-term note program and proposed unsecured notes issued under the program.

The notes are general and unconditional obligations of the issuer and will rank pari passu with all other present and future unsecured debt of the issuer, including the existing €550 million notes.

The BBB- senior unsecured rating is aligned with Globalworth's issuer default rating.

The company will use the proceeds to refinance all existing secured debt of the recently acquired Polish real-estate company Griffin Premium RE, which totals €306 million. The balance will fund acquisitions and developments.

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