PRESS RELEASE

TAG Immobilien AG rated investment grade by both rating agencies S Global and Moody's

Hamburg, 27 May 2024

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 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."

 

Contact

TAG Immobilien AG

Dominique Mann

Head of Investor Public Relations

Phone: +49 (0) 40 380 32 305

ir@tag-ag.com