LondonMetric Property Plc (LON:LMP) has announced that it has been assigned a first time Long-Term Issuer Default Rating (IDR) of ‘BBB+’ by Fitch Ratings, with a Stable Outlook and a senior unsecured rating of ‘A-‘. The senior unsecured rating applies to LondonMetric’s existing US Private Placement notes in issue.
LondonMetric was advised on the credit rating by Rothschild & Co.
Martin McGann, Finance Director of LondonMetric, commented:
“This BBB+ investment grade credit rating reflects the Company’s significant scale and strong balance sheet, as well as its alignment to structurally supported sectors and assets that generate reliable, repetitive and growing income. It gives us greater optionality for future debt issuances and will allow us to benefit from more attractive financing rates in the future.”
