Tritax EuroBox has received its first investment-grade credit rating, an achievement its finance director described as a “milestone” for its financial strategy.
The company, which invests in logistics sites across Europe, has received a BBB- long-term credit rating from Fitch.
The receipt of an investment-grade rating means the cost of the company’s revolving credit facility is lowered by 30 basis points. Tritax EuroBox also plans to now access the debt capital markets.
“The company’s recent successful fundraise allows us to capitalise further on the significant opportunities that exist in the continental European logistics real estate market,” said finance director Mehdi Bourassi.
“Obtaining an investment-grade credit rating marks a significant milestone in the evolution of the company, demonstrating our maturity and stability. It will enable access to a wider pool of financing strategies, leading to even greater resilience and a lower cost of debt.”
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
