Credit Rating Upgrade for Vesteda Residential Fund
The credit rating of Vesteda Residential Fund, the largest commercial residential fund in the Netherlands, is upgraded by Standard & Poor’s from BBB to BBB+. The stable outlook of the rating remains unchanged.
Standard & Poor’s raised Vesteda’s company credit rating stating among others that: “Vesteda’s business risk profile continues to be strong and reflects our view of the fund’s well positioned portfolio of residential properties”.
“This rating upgrade is an important step for further optimisation of our debt funding for future growth and lowering of our interest costs. It underlines our conservative financial policy and leverage, while retaining financial flexibility to facilitate further growth of the portfolio,” says Gertjan van der Baan, CEO of Vesteda.
The full text of Standard and Poor’s announcement is available on our website at the page Credit Investors.
Vesteda is a residential investor and landlord that focuses on sustainable and affordable homes in the mid rental segment. Vesteda invests funds for institutional investors, such as pension funds and insurance companies. The portfolio consists of nearly 28,000 residential units with a total value of 9 billion euro. The homes are mainly located in economically strong regions and core urban areas in the Netherlands.