Global Credit Ratings (GCR) reaffirms Octodec’s A- credit rating with a revised stable outlook
On Wednesday, 22 June 2022 JSE listed REIT Octodec Investments Limited announced that Global Credit Ratings (GCR) had reaffirmed Octodec’s A- credit rating with a revised stable outlook.
Shareholders and noteholders are advised that Global Credit Ratings (“GCR”) has undertaken a credit rating review of Octodec, as guarantor of wholly-owned subsidiary Premium Properties Limited’s Domestic Medium-Term Note Programme dated 23 February 2015. On 21 June 2022, GCR re-affirmed the long-term national scale issuer rating assigned to Octodec of A-(za) and the short-term issuer rating of A2(za), with the outlook revised from Negative to Stable.
This revised outlook is indicative of the improved trading conditions for listed property owners with exposure to defensive sectors such as retail and residential in a post-Covid-19 environment and signals the prevailing positive sentiment for operators in the Tshwane and Johannesburg CBD’s.
GCR’s credit rating announcement is publicly available on GCR’s website at https://gcrratings.com/announcements/gcr-affirms-octodec-investments-limiteds-ratings-of-a-za-a2za-and-revises-the-outlook-to-stable-from-negative/.
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