S&P Global Ratings has given CPI Property Group a ‘BBB’ rating and improved its outlook for the property company from stable to positive. The company won a Baa3 rating last September, but appears to have impressed S&P with its figures for the full year. “CPI PG achieved a record profit in 2017, we simplified our capital structure and we continued improving the occupancy and the yield of our real estate portfolio,” said general director Martin Němeček. “We’re very please that the international rating agency has noticed our successes, including the dramatic improvement of the loan profile of the group and its conservative financial policies.”
CPI will be expanding the parameters of its activities on bond markets, having placed €825m worth of paper with institutional investors last fall. The company has instructed Barclays, Deutsche Bank, J.P. Morgan a UniCredit to organize meetings with investors this week in which CPI will introduce a hybrid subordinated bond it intends to offer.
