The future CECONOMY AG given ratings of Baa3 (Moody’s) and BBB- (Scope) with a stable outlook

Düsseldorf, Germany, 2017-Jun-29 — /EPR Retail News/ — The international rating agencies Moody’s Investors Service and Scope Ratings have given the future CECONOMY AG (“CECONOMY”) ratings of Baa3 (Moody’s) and BBB- (Scope) with a stable outlook. Thus the future CECONOMY will, as planned, receive an investment grade rating when independently listed on the stock exchange after the spin-off of the wholesale and food business to the METRO Wholesale & Food Specialist AG (the future METRO AG).

According to Moody’s the reason for the appraisal is above all the business size, the wide regional positioning and the multi-channel capability of the future CECONOMY. Scope likewise highlights the strong presence of the company in the European consumer electronics markets and the solid balance sheet resources.

Moody’s is one of the world’s leading rating agencies. Scope is positioned as an alternative European provider of credit ratings.

CECONOMY AG (currently: METRO AG) is the leading platform for companies, concepts and brands in consumer electronics in Europe. CECONOMY’s market position is based in particular on the strong brands Media Markt and Saturn. With more than 2 billion contacts per year, CECONOMY aims to give consumers a sense of orientation and offer them solutions for making the most of the opportunities innovative technologies offer. To this end, CECONOMY will seek to develop new concepts and business models that provide decisive added value for consumers and open up new economic potential for the success of the company and its shareholders.

This release may contain forward-looking statements based on current assumptions and forecasts made by the management of future CECONOMY and other information currently available to CECONOMY. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. CECONOMY does not intend, and does not assume any obligation whatsoever, to update these forward-looking statements or to conform them to future events or developments.

SOURCE: METRO AG

Contact Media Department

Telephone: +49 211 6886-4252
Telefax: +49 211 6886-2001

E-Mail METRO GROUP: presse@metro.de

Moody’s Investors Service upgrades Citycon’s credit rating to Baa1

Helsinki, 2016-Jan-16 — /EPR Retail News/ — Moody’s Investors Service has upgraded Citycon’s investment grade level long-term corporate credit rating to Baa1. The outlook is stable. The previous rating was Baa2 with a stable outlook.

The rating was upgraded mainly due to Citycon’s improved business profile following the acquisition and integration of Norwegian Sektor Gruppen that increased the scale, improved the geographical diversification and reduced the tenant concentration risk of the company.

Moody’s press release is attached to this release.

SOURCE: CITYCON OYJ

For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 50 557 9137
eero.sihvonen@citycon.com

Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total close to EUR 5 billion and with market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com

For further information, please contact:
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 50 557 9137
eero.sihvonen@citycon.comCitycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total close to EUR 5 billion and with market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com

Moody’s Investors Service upgraded X5 Retail Group’s credit rating to Ba3 from B1

Amsterdam, 2015-7-3 — /EPR Retail News/ — X5 Retail Group (“X5” or “the Company”), a leading Russian food retailer, announced today that the rating agency Moody’s Investors Service (“Moody’s”) upgraded the Company’s credit rating (corporate family rating – CFR) to Ba3 from B1. The outlook on the rating is stable.

“The upgrade of X5’s ratings to Ba3 reflects the company’s improved financial ratios as a result of the reduction in adjusted debt following changes in Moody’s approach to capitalising operating leases, supported by a solid track record of healthy operating performance, prudent financial policy committed to organic growth, highly flexible capex, and limited foreign exchange risk.” – Moody’s noted in its report.

Note to Editors:

X5 Retail Group N.V. (LSE: FIVE, Fitch – ‘BB’, Moody’s – ‘Ba3’, S&P – ‘BB-’) is a leading Russian food retailer. The Company operates several retail formats: the chain of proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand and Express convenience stores under various brands.

As of 31 March 2015, X5 had 5,639 Company-operated stores. It has the leading market position in both Moscow and St. Petersburg and a significant presence in the European part of Russia. Its store base includes 4,958 Pyaterochka proximity stores, 405 Perekrestok supermarkets, 83 Karusel hypermarkets and 193 convenience stores. The Company operates 33 DCs and 1,407 Company-owned trucks across the Russian Federation.

For the full year 2014, revenue totaled RUB 633,873 mln (USD 16,498 mln), EBITDA reached RUB 45,860 mln (USD 1,194 mln), and profit for the period amounted to RUB 12,691 mln (USD 330 mln).

X5’s Shareholder structure is as follows: Alfa Group – 47.86%, founders of Pyaterochka – 14.43%, X5 Directors – 0.04%, treasury shares – 0.04%, free float – 37.63%.

For further details please contact
Maxim Novikov
Head of Investor Relations
Tel.: +7 (495) 502-9783
e-mail: Maxim.Novikov@x5.ru

Anastasiya Kvon
IR Director
Tel.: +7 (495) 792-3511
e-mail: Anastasiya.Kvon@x5.ru

X5 Retail Group announces that Moody’s Investors Service upgraded its credit rating to B1 from B2

Amsterdam, 2015-4-22 — /EPR Retail News/ — X5 Retail Group (“X5” or “the Company”), a leading Russian food retailer, announced today that the rating agency Moody’s Investors Service (“Moody’s”) upgraded the Company’s credit rating (corporate family rating – CFR) to B1 from B2. The outlook on the rating is stable.

“The upgrade of X5’s ratings to B1 reflects the company’s strengthened business profile as a result of ongoing efforts to turnaround the business model and achieve the post-merger integration of various formats. This was evidenced through consistently improving operating performance since 4Q 2013 and throughout 2014,” – Moody’s noted in its report.

In addition, Moody’s Interfax Rating Agency has upgraded to A1.ru from A3.ru the national scale corporate family rating (NSR) of X5 Retail Group N.V.

Note to Editors:
X5 Retail Group N.V. (LSE: FIVE, Fitch – ‘BB’, Moody’s – ‘B1’, S&P – ‘BB-’) is a leading Russian food retailer. The Company operates several retail formats: the chain of proximity stores under the Pyaterochka brand, the supermarket chain under the Perekrestok brand, the hypermarket chain under the Karusel brand and Express convenience stores under various brands.

As of 31 March 2015, X5 had 5,639 Company-operated stores. It has the leading market position in both Moscow and St. Petersburg and a significant presence in the European part of Russia. Its store base includes 4,958 Pyaterochka proximity stores, 405 Perekrestok supermarkets, 83 Karusel hypermarkets and 193 convenience stores. The Company operates 33 DCs and 1,407 Company-owned trucks across the Russian Federation.

For the full year 2014, revenue totaled RUB 633,873 mln (USD 16,498 mln), EBITDA reached RUB 45,860 mln (USD 1,194 mln), and profit for the period amounted to RUB 12,691 mln (USD 330 mln).

X5’s Shareholder structure is as follows: Alfa Group – 47.86%, founders of Pyaterochka – 14.43%, X5 Directors – 0.04%, treasury shares – 0.04%, free float – 37.63%.

For further details please contact
Maxim Novikov
Head of Investor Relations
Tel.: +7 (495) 502-9783
e-mail: Maxim.Novikov@x5.ru

Anastasiya Kvon
IR Director
Tel.: +7 (495) 792-3511
e-mail: Anastasiya.Kvon@x5.ru

CBRE Group’s senior secured bank credit facility and senior unsecured ratings raised to Investment Grade (Baa3) by Moody’s Investors Service

Los Angeles, CA, 2015-3-12 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today announced that Moody’s Investors Service has raised the Company’s senior secured bank credit facility and senior unsecured ratings to Investment Grade (Baa3), with a stable outlook.

In making the upgrade, the Moody’s analysis cited CBRE’s conservative capital structure, sound financial policy and increased contractual and recurring revenue sources.

“The Moody’s upgrade is a strong endorsement of our strategy of thoughtfully managing our balance sheet while investing in our people, platform and service offering to create real advantage for our clients and to enhance the competitive position of CBRE,” said Jim Groch, CBRE’s chief financial officer and global director of corporate development.

In December 2014, Standard & Poor’s Rating Services (S&P) raised CBRE’s corporate rating to Investment Grade (BBB-).

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue).  The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com​

For Further Information

Steve Iaco
T +1 212 9846535
email

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