Credit rating upgrade to A- for Vesteda
Vesteda received an A- corporate credit rating with ‘outlook stable’ from Standard & Poor’s (“S&P”). This is an upgrade by one notch from BBB+ in 2020. This is based on Vesteda’s strong financial discipline, with a sustained low leverage, and supported by its conservative financial policy.
S&P mentions Vesteda’s solid operational performance, with very limited impact from the COVID-19 pandemic, and expects that Vesteda continues to benefit from stable rental income thanks to Vesteda’s high occupancy levels and the favorable dynamics of the Dutch housing market. S&P considers Vesteda’s liquidity profile as strong.
Frits Vervoort, CFO Vesteda: “We consider the rating upgrade as a recognition for our conservative financial discipline and our solid operating performance in combination with the nature and resilience of our well diversified portfolio, with a focus on the mid-rental segment in the Dutch housing market with strong fundamentals."
“This press release is published on 23th of April, 5:30 PM by Vesteda Finance B.V. and contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation)”