FOR IMMEDIATE RELEASE
1 July 2024
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Fitch investment grade credit rating maintained and change in outlook to stable
Change of Name of Nominated Adviser and Broker
Fitch investment grade credit rating maintained and change in outlook to stable
Globalworth, the leading office investor in Central and Eastern Europe, announces that Fitch Ratings ("Fitch"), the international credit rating agency, has revised the Outlook on the Company's Long-Term Issuer Default Rating (IDR) to Stable from Negative and affirmed it at 'BBB-' . Fitch has also affirmed Globalworth's senior unsecured debt rating at 'BBB-'.
As evidenced with its successful bond refinancings and disposals concluded over the past 12 months, including the sale of the wholly-owned logistics portfolio, Globalworth has strengthened its capital structure and will now focus on deleveraging, optimising operational efficiencies and further enhancing its portfolio quality through selective growth, whilst maintaining its prudent approach to risk management.
Change of Name of Nominated Adviser and Broker
The Company also announces that its Nominated Adviser and Broker has changed its name to Panmure Liberum Limited following completion of its own corporate merger.
Enquiries
| Rashid Mukhtar Group CFO
| Tel: +40 732 800 000 |
| Panmure Liberum (Nominated Adviser and Broker) Atholl Tweedie | Tel: +44 20 7886 2500 |
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Poland and Romania. Globalworth acquires, develops and directly manages high-quality office and industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 269 professionals across Cyprus, Guernsey, Poland and Romania the combined value of its portfolio is €3.0 billion, as at 31 December 2023. Approximately 96.8% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of over 715 national and multinational corporates. In Poland Globalworth is present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in Romania it has assets in Bucharest and seven other cities.
For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.
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