DGAP-News: Consus Real Estate AG: S&P Ratings upgraded Consus to 'BB-', outlook stable

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Consus Real Estate AG: S&P Ratings upgraded Consus to 'BB-', outlook stable

18.12.2020 / 10:31
The issuer is solely responsible for the content of this announcement.


Consus Real Estate AG: S&P Ratings upgraded Consus to 'BB-', outlook stable

Consus Real Estate AG ("Consus"): S&P Global Ratings (S&P) announced an upgrade of Consus' rating to 'BB-' for the company and 'B+' for the senior secured notes. The outlook remained stable.

The rating upgrade reflects S&P's view that Consus' credit profile is enhanced by its strategic importance to its parent company Adler Group S.A. S&P sees Consus' landbank as a strategic platform to fuel Adler's future growth and develop mainly residential assets in Germany for holding purposes in the medium-to-long term.

The stable outlook reflects S&P's expectation of Consus being able to continue to benefit from the favourable fundamentals of the German residential real estate market and strong demand.

Contact:
Investor Relations
investors@consus.ag
+49 30 965 357 90 264

About Consus Real Estate AG
Consus Real Estate AG ("Consus"), with its headquarters in Berlin, is the leading real estate developer in the top 9 cities in Germany. As of 30 September 2020, Consus' development portfolio had a gross development value (GDV) of EUR 10.6 billion. Pro forma for the upfront sales announced in May 2020, the development portfolio has a GDV of EUR 8.6 billion. Consus focuses on the development of neighbourhoods and standardised multi-storey residential construction, which are sold to institutional investors through forward sales. Due to its own construction expertise and the digitalisation of construction processes, Consus operates along the entire value chain of real estate development. Consus provides the realisation of projects from planning and execution to handover, property management and related services through its subsidiaries Consus RE GmbH and Consus Swiss Finance AG. The shares of Consus are included in the scale segment of the Frankfurt Stock Exchange and the m:access segment of the Munich Stock Exchange and are traded via XETRA in Frankfurt, among others.

 



18.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: CONSUS Real Estate AG
Kurfürstendamm 188-189
10707 Berlin
Germany
Phone: +49 (0)30 965 357 90 300
E-mail: info@consus.ag
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: 1156238

 
End of News DGAP News Service

1156238  18.12.2020 

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