June 21, 2017. The international rating agency Standard & Poor’s revised the outlook rating of the investment company O1 Properties to “stable”. The Company’s rating was confirmed at the level of B+.
Positive factors mentioned by Standard & Poor’s analysts, which justify the outlook improvement, include good conditions for access by O1 Properties to public capital markets. In September 2016 the company successfully placed a USD 350 million Eurobond issue on public markets, and that was followed in February-May 2017 by placement of two bond issues on the Moscow Stock Exchange. The proceeds from placements were mainly used to repay the Group’s financial liabilities, which has optimized and reduced the cost of debt service.
Standard & Poor’s also noted the high quality of the Company’s real estate portfolio, most of which is concentrated in Moscow’s central business district. About 70% of the operating income of O1 Properties comes from large international companies working in a broad range of industries. Average lease duration at Company properties exceeds four years. Development assets account for less than 5% of value of the Company’s real estate portfolio.View PDF