Communication Officielle
Vendredi 29 octobre 2021, 09h00 (il y a 29 mois) ARGAN is rated “BBB-/ stable” by the rating agency S&P Global RatingsPress 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)
About Argan ARGAN is the only French real estate company specialising in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on Euronext.
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