Fortress REIT Limited
- Fortress REIT Limited
- Year : Dec 2020
Summary
The affirmation of Fortress REIT Limited’s (“Fortress”) ratings on 09 December 2020 reflects the REIT’s large, diverse, and high-quality portfolio, through-the-cycle earnings enhancement from its pan-European exposure, as well as the headroom in financial metrics to withstand the weak letting environment. Fortress’ strong business profile benefits from its scale and bias towards good quality logistics and retail assets in a portfolio that is well diversified by asset, tenant and geography.
Additional Information
The Stable Outlook reflects our expectations that, notwithstanding the heightened uncertainty in the wake of the COVID-19 crisis, Fortress’ financial profile will remain relatively stable due to its defensive logistics portfolio, proactive treasury management and the measured approach to its developments. Upward rating migration beyond the COVID-19 crisis could result from; 1) a recovery in the operating environment that translates into stronger earnings; 2) lengthening of the weighted average debt maturity profile combined with a strengthening in credit metrics.
