S&P Global Ratings affirmed Demire Deutsche Mittelstand Real Estate AG's BB long-term issuer credit rating after Apollo Global Management LLC's affiliate AEPF III 26 Sarl and Wecken & Cie acquired 39.5% and 37% of its share capital, respectively.
The outlook on the rating remains stable.
S&P expects Demire's strategy and credit standing to remain unaffected from the change in its new majority shareholder to Apollo, which, together with Wecken, owns a 76.52% interest in the company.
The agency is of the view that there is limited risk of a major shift in the company's strategy.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.
