ARGAN is rated “BBB-/ stable” by the rating agency S&P Global Ratings
29 Octobre 2021 - 8:50AM
ARGAN is rated “BBB-/ stable” by the rating agency S&P Global
Ratings
Press Release –
Friday 29th
October
2021
-
8:50
am.
ARGAN is rated
“BBB-/ stable” by the rating agency S&P Global
Ratings
ARGAN, the only French
listed real estate company specialised in the development
and the rental of PREMIUM
warehouses, announces
today it has been assigned an Investment
Grade
«BBB-»
long-term issuer credit rating with a stable outlook
by S&P Global Ratings.
ARGAN wished to initiate a financial rating
process in a context of diversification and optimisation of its
sources of financing, in particular with a view to access the bond
market depending on market conditions. At the end of the process,
S&P Global Ratings assigned to ARGAN a BBB- rating with a
stable outlook.
Commenting on the above, Jean-Claude Le
Lan, Founder and Chairman of the Supervisory Board said:
« Achieving an Investment Grade rating is an important step in
ARGAN’s development which should facilitate its growth,
particularly by obtaining more favourable financing conditions on
the markets. We are very pleased with this preliminary rating which
reflects the quality of ARGAN's credit profile and confirms the
recognition of our leading position in the Prime logistics real
estate sector. »
The rating is available on the website of S&P Global
Ratings: www.standardandpoors.com.
ARGAN also announces the decrease of its LTV
ratio target to 45% for the end of the year (compared to an updated
forecast of 50% as at 30 September 2021). This reduction is in line
with the revaluation of ARGAN's delivered portfolio publicly
announced on 1st October 2021 and the implementation of its
strategic plan.
Financial calendar 2021
(Publication of the press release after closing of the stock
exchange)
- 03 January 2022: Annual revenue 2021
- 19 January 2022: Annual results 2021
About Argan
ARGAN is the only French real estate company
specialising in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES
listed on Euronext.As at 30 September 2021, ARGAN’s portfolio
amounted to 3.3 million sq. meters, comprising approximately 100
warehouses located exclusively in France, valued at €3.7 billion
and generating annual rental income of €162 million. ARGAN is
listed on Compartment A of Euronext Paris (ISIN FR0010481960 - ARG)
and is included in the CAC All-Share and IEIF SIIC France indices.
The company opted for the listed real estate investment companies
(SIICs) tax regime on 01 July 2007.www.argan.fr
Francis
Albertinelli – Chief Financial and Administrative
OfficerMarie-Caroline Schwartz – General CounselTel: +33 1 47 47 05
46 E-mail: contact@argan.frwww.argan.fr |
Aude Vayre – Media relationsTel: +33 6 14 64 15
65E-mail: argan@citigatedewerogerson.com |
|
|
- 20211029 - Rating S&P - English version
Argan (EU:ARG)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Argan (EU:ARG)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024