S&P Confirms Covivio’s BBB+ Rating with Stable Outlook

Standard & Poor’s (S&P) has reaffirmed Covivio’s credit rating at BBB+, indicating a stable financial outlook for the real estate company. The rating reflects Covivio’s robust operational and financial performance, including a diversified portfolio and sustained rental achievements. Notably, the company reported a 7.1% growth in like-for-like revenues as of the end of March 2024.

Covivio's operational strengths are complemented by a solid financial foundation, as highlighted by an average debt maturity standing at nearly five years, and substantial available liquidity of €2.4 billion. The company's hedging ratio of 92% underscores its prudent financial management practices. S&P asserts that Covivio’s credit metrics are securely within the parameters for its BBB+ rating.

This latest rating confirmation from S&P underscores the resilience of Covivio’s business model and the company's ability to maintain a high quality balance sheet amidst changing economic conditions.