Fitch Ratings BBB

The credit rating agency Fitch has assessed Akelius’ issuer credit risk to BBB.

The rating reflects Akelius' high geographical diversification across major metropolitan cities in Europe and North America.
These markets exhibit low vacancy rates, often regulated below market rents, low turnover rates and reversionary rental income growth.

Fitch gives Akelius' debt instruments a one-notch uplift due to high expectations of recovery.
Akelius' senior unsecured debts thereby receive the issue credit rating of BBB+.
 

issuer credit rating 
long-termBBB, stable outlook
short-termF2
  
issue credit rating unsecured debt 
long-termBBB+
  
issue credit rating hybrid bond 
issueBBB-


upgrade
May occur if Akelius improves the EBITDA net interest cover to above 2.5 or improves the ratio of net debt to rental-derived EBITDA to below 20.

downgrade
May occur if Akelius worsen the EBITDA interest coverage to below 1.75 or worsen the ratio of net debt to rental-derived EBITDA to above 23.

reports on Akelius by Fitch Ratings

rating action commentary, March 2022
issuer credit rating

more information

Fitch Ratings website