S&P confirms Covivio’s BBB+ rating, stable outlook

  • Finance

May 25, 2023

Following its annual review, S&P confirmed Covivio’s BBB+ rating, stable outlook. This emphasizes the robustness of the operational and financial profile of the company.

S&P highlighted the strong operational profile, diversified and supported by rental performance. As a reminder, like-for-like rental growth reached +11% in Q1 2023, with an occupancy rate of 95% and a weighted average lease break of 7 years.

S&P also stressed the robustness of the balance sheet, with a weighted-average debt maturity close to 5 years, 87% hedging ratio, with an average maturity of financial instruments of 6.3 years. S&P also indicated that credit metrics are well rooted in the thresholds of the BBB+ rating.

This confirmation once again demonstrates the resilience of Covivio’s business model and the strength of its balance sheet. Covivio’s balance sheet was recently reinforced by €279M dividend payment in shares (79% subscription).


Press Relations

Géraldine Lemoine

Tél : + 33 (0)1 58 97 51 00
Mail : geraldine.lemoine@covivio.fr

Louise-Marie Guinet

Tél : + 33 (0)1 43 26 73 56
Mail : covivio@wellcom.fr

Investor Relations

Vladimir Minot

Tél : + 33 (0)1 58 97 51 94
Mail : vladimir.minot@covivio.fr