Press release – Neuilly-sur-Seine,
S&P strengthened ARGAN’s “Investment Grade” status with a “Stable” outlook for its “BBB-” rating
In its report,
- the faster than previously anticipated improvement in debt ratios by the end of 2024, which
ARGAN targets to bring to 44 % regarding its LTV2 ratio and to 9.5x for its net debt to EBITDA; - an adequate liquidity position, with no refinancing needs for the years 2024 and 2025; and
- a portfolio of premium assets that generate stable and predictable cash flows, in a supportive French logistics real estate sector.
More generally, this upgrade testifies to the adequacy of the Group’s strategy for mastered growth and strong debt reduction as well as increased trust from financial markets in ARGAN’s name, reinforced by steady and transparent financial communication.
The rating is available on the website of
2024 financial calendar (Publication of the press release after closing of the stock exchange)
July 1 : Net sales of 2nd quarter 2024July 24 : Half-year results 2024October 1 : Net sales of 3rd quarter 2024
2025 financial calendar (Publication of the press release after closing of the stock exchange)
January 3 : Net sales of 4th quarter 2024January 16 : Annual results 2024
March 20 :General Assembly 2025
About
Profitability, tight control over our debt and sustainability are at the heart of
As of today, our portfolio represents 3.6 million sq.m, across about a hundred warehouses, exclusively located in the continental part of
www.argan.fr
Phone: +33 1 47 47 47 40 E-mail: contact@argan.fr www.argan.fr | Marlène Brisset – Media relations Phone: +33 6 59 42 29 35 E-mail: argan@citigatedewerogerson.com |
1 For more information, readers are referred to press releases published on
2 LTV EPRA (excluding duties), assuming a cap. rate of 5.25% excluding duties.
Attachment
- 20240513 - Argan S&P Rating Stable Outlook
© OMX, source