Peach Property: Rating improvement by S&P Global Ratings due to portfolio growth and lower leverage ratio


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=> Long-term credit rating of issuers upgraded from “B +” to “BB-“
=> Improvement in the rating of issuers for senior unsecured bonds from “BB-” to “BB”
=> Important milestone for a further reduction in the cost of debt

Peach Property Group AG, a real estate company specializing in the investment and management of residential rental properties in Germany, informs that S&P Global Ratings (“S&P”) has increased the long-term issuer rating of Peach Property Group AG from ” B + “to” BB – “/ stable outlook and the rating of its senior unsecured bonds from” BB- “to” BB “.

As a basis for the upgrade, S&P highlighted the increase in Peach Property Group’s real estate portfolio, a lower leverage ratio, strong operational performance in the first half of 2021, a 4.4% increase in rental income (at comparable data) and a further reduction in the overall vacancy rate. at 7.5% against 7.9%. S&P expects demand for residential properties in Germany to remain strong, resulting in stable cash flow generation, robust occupancy levels and continued positive rental income growth for Peach Property Group on a comparable basis.

“The upgrading of our rating by S&P Global Ratings to BB- with a stable outlook is also recognition of our constant concern for sound capital management and thus constitutes an important step towards further reducing our average interest charge” , explains Thorsten Arsan, CFO of Peach Property Group AG.

Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, says: “Our company’s strategy of bold but sustainable growth while staying close to tenants and managing very efficiently is paying off; this upgrade is the result of our strengthened asset base. more value-creating options to enable us to act in the interests of our shareholders. ”

Contact:

Media, investors and analysts
Dr Thomas Wolfensberger, Managing Director and
Thorsten Arsan, Chief Financial Officer
+41 44 485 50 00 | [email protected]

Media Germany
Edelman GmbH, Ruediger O. Assion
+49 (0) 221 8282 8111 | mobile: +49 (0) 162 4909624 | [email protected]

About Peach Property Group AG

The Peach Property Group is a real estate investor and developer specializing in investing in Germany. The group stands for many years of experience, competence and quality. Innovative solutions for cutting-edge life needs, strong partnerships and a broad value chain complete the profile. The portfolio consists of high-yield real estate, typically located in cities B in the catchment area of ​​conurbations. In addition, the Group develops real estate for its own portfolio or for the marketing of condominiums. In the latter area, the Group is concentrating on A sites and buildings with attractive architecture and high-end furniture for an international clientele. Its activities span the entire value chain, from location assessment and acquisitions, to active asset management and the sale or rental of real estate.

Peach Property Group AG is headquartered in Zurich and the group’s headquarters are in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its board of directors is made up of Reto Garzetti (chairman), Peter Bodmer, Dr Christian De Prati, Kurt Hardt and Klaus Schmitz.

More information on https://peachproperty.com

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