ARGAN is rated “BBB- / stable” by the rating agency S&P
Press release – Friday 29e October 2021 – 8:50 amr.
ARGAN is noted “BBB- / stable âby the rating agency S&P Global Ratings
ARGAN, the only listed French real estate company specializing in and the rental of PREMIUM warehouses advertises today he received an investment note “BBB-“ long-term credit rating of issuers with a stable outlook by S&P Global Ratings.
ARGAN wished to initiate a financial rating process in a context of diversification and optimization of its sources of financing, in particular with a view to accessing the bond market depending on market conditions. At the end of the process, S&P Global Ratings assigned ARGAN a BBB- rating with a stable outlook.
Commenting on the above, Jean-Claude Le Lan, Founder and Chairman of the Supervisory Board said: âObtaining an Investment Grade rating is an important step in the development of ARGAN which should facilitate its growth, in particular by obtaining more favorable financing conditions on the markets. We are very satisfied with this preliminary rating which reflects the quality of ARGAN’s credit profile and confirms the recognition of our leading position in the Prime logistics real estate sector. “
The rating is available on the S&P Global Ratings website: www.standardandpoors.com.
ARGAN also announces the reduction of its LTV ratio target to 45% for the end of the year (against an updated forecast of 50% as of September 30, 2021). This reduction is in line with the revaluation of the delivered portfolio of ARGAN announced publicly on 1st October 2021 and the implementation of its strategic plan.
Financial calendar 2021 (Publication of the press release after market close)
- January 03, 2022: 2021 annual turnover
- January 19, 2022: 2021 annual results
About the argan tree
ARGAN is the only French real estate company specializing in PREMIUM WAREHOUSE PLANNING & RENTAL listed on Euronext.
As of September 30, 2021, ARGAN’s portfolio amounted to 3.3 million mÂ², comprising around 100 warehouses located exclusively in France, valued at 3.7 billion euros and generating annual rental income of 162 million euros. euros. ARGAN is listed on compartment A of Euronext Paris (ISIN FR0010481960 – ARG) and is part of the CAC All-Share and IEIF SIIC France indices. The company opted for the tax regime for listed real estate investment companies (SIICs) on July 1, 2007.
20211029 – S&P Rating – English version