Moody’s Elevates TAG Immobilien AG to Investment Grade Amid Strong Performance

Moody’s Elevates TAG Immobilien AG to Investment Grade Amid Strong Performance

(IN BRIEF) Moody’s, the international rating agency, has upgraded TAG Immobilien AG’s long-term credit rating to ‘investment grade, Baa3, outlook stable,’ citing the company’s robust operational performance and disciplined financial strategy amidst challenging market conditions driven by escalating interest rates. This elevation aligns with the previous ‘stable’ outlook by S&P Global, which upgraded TAG’s existing ‘BBB-‘ investment grade rating in March 2024. Martin Thiel, CFO and Co-CEO of TAG, expressed satisfaction with the dual investment grade ratings, highlighting the sustained positive cash flows from both German and Polish portfolios as foundational to TAG’s robust capital structure. Thiel emphasized the enhanced financing opportunities for refinancing and future expansion facilitated by the upgraded ratings.

(PRESS RELEASE) HAMBURG, 27-May-2024 — /EuropaWire/ — The international rating agency Moody’s has on 24 May 2024, upgraded the long-term credit rating of TAG Immobilien AG to ‘investment grade, Baa3, outlook stable’ (before: ‘non investment grade, Ba1, outlook stable’). According to Moody’s, the rating upgrade reflects in particular TAG’s continued strong operating performance and the company’s disciplined financial policy in a challenging market environment due to rising interest rates.

With its upgrade, Moody’s has drawn level with the rating agency S&P Global, which had already upgraded the ‘negative outlook’ of the existing ‘BBB-‘ investment grade rating to ‘stable’ on 28 March 2024.

Martin Thiel, CFO and Co-CEO of TAG, comments: “We are pleased to now have two stable investment grade ratings again following Moody’s upgrade. Even in the current interest rate environment, both our German and Polish portfolios are generating sustainably positive cash flows. This is the basis for TAG’s strong capital structure. With the two investment grade ratings, we now have additional attractive financing options, both in the area of refinancing and for further growth.”

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SOURCE: TAG Immobilien AG


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