Fitch Ratings raises IGD’s outlook from Stable to Positive and confirms its “BBB-” rating

IGD – Immobiliare Grande Distribuzione SIIQ S.p.A., one of Italy’s leading players in ownership and management of shopping centres, listed on the Euronext STAR segment of the Italian Stock Exchange, announces that Fitch Ratings Ltd. has affirmed the Company’s long-term debt rating at BBB- and upgraded the outlook from Stable to Positive.

Improved operating performance, combined with the maintenance of strict financial discipline, contributed to the confirmation of the rating and the upward revision of the outlook.

The positive outlook also reflects expectations that the planned disposal program, a restrained investment policy, and disciplined management of dividend distributions will contribute to a further strengthening of IGD’s financial profile.

The agency’s assessment takes into account the improvement in the operational performance of the real estate portfolio, driven by increasingly active asset management, with high occupancy rates and a weighted average lease to earliest-break (WALB) that is gradually improving.

Fitch Ratings first assigned IGD a BBB- rating with a Stable Outlook in October 2019, recognizing the strength of the company’s business model and the quality of its real estate portfolio. Since then, the investment-grade rating has been consistently affirmed, even amid macroeconomic and financial conditions marked by significant challenges, reflecting IGD’s operational resilience and its ability to maintain its economic and financial profile.

The press release issued by Fitch Ratings can be found at the following link: https://www.fitchratings.com/site/pr/10363003

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