DGAP-News: Consus Real Estate AG: S&P outlook revised to positive on new minority shareholding of ADO Properties; 'B' affirmed.
DGAP-News: CONSUS Real Estate AG
/ Key word(s): Rating
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. Consus Real Estate AG: S&P outlook revised to positive on new minority shareholding of ADO Properties; 'B' affirmed. Consus Real Estate AG ("CONSUS"): S&P Global Ratings (S&P), today announced an upgrade of CONSUS' rating outlook from 'stable' to 'positive', and affirmed the 'B' rating for the company and 'B-' for the secured notes. The positive outlook reflects S&P's view that CONSUS' creditworthiness could improve if ADO Properties S.A. ("ADO") acquires another 51% of Consus' share capital via its call option and takes control of the company within the next 18 months. (the maximum timeframe to exercise the call option). In addition, S&P states in its rating report that CONSUS could benefit from extraordinary support from the combined entity upon the execution of the call option for a 51% stake, assuming CONSUS successful integration with ADO. The positive outlook indicates that S&P could raise its ratings on CONSUS by up to four notches if ADO were to exercise its call option and take a controlling stake in Consus. About Consus Real Estate AG Important notice In the United Kingdom, this publication is being directed only at persons who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the 'Order') or (ii) persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, partnerships, etc.) (all such persons together being referred to as 'Relevant Persons'). This publication is directed and distributed only to Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this publication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This announcement and any offer if made subsequently is directed exclusively in member states of the European Economic Area (the "EEA") at, persons who are "Qualified Investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market. No action has been taken that would permit an offer or a purchase of the securities or distribution of this publication in any jurisdiction where such action would be unlawful. Persons who are in possession of this announcement are required to inform themselves about and observe any such restrictions. To the extent that this announcement contains forward-looking statements, such statements do not represent facts and are characterised by the words 'expect', 'believe', 'estimate', 'intend', 'aim', 'assume' or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of Consus Real Estate AG and are based on current plans, estimates and forecasts which Consus Real Estate AG has made to the best of its knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by Consus Real Estate AG. It should be kept in mind that actual events or developments may differ materially from those contained in or expressed by such forward-looking statements. Contact:Investor Relations Robert Stierwald T: +49 30 96535790264 E: [email protected]
18.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | CONSUS Real Estate AG |
Kurfürstendamm 188-189 | |
10707 Berlin | |
Germany | |
Phone: | +49 (0)30 965 357 90 300 |
E-mail: | [email protected] |
Internet: | www.consus.ag |
ISIN: | DE000A2DA414 |
WKN: | A2DA41 |
Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt (Scale), Munich (m:access), Stuttgart, Tradegate Exchange |
EQS News ID: | 939453 |
End of News | DGAP News Service |
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939453 18.12.2019