trending Market Intelligence /marketintelligence/en/news-insights/trending/ID7rFUN2H0LTCwOwm66Mrw2 content esgSubNav
In This List

Moody's revises ADO Properties outlook following Adler merger agreement

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Moody's revises ADO Properties outlook following Adler merger agreement

Moody's Investors Service revised its outlook on ADO Properties SA to negative from stable, while affirming the company's ratings.

The rating agency affirmed the company's Baa3 long-term rating, its P-3 short term rating, and the Baa3 senior unsecured bond rating.

The negative outlook takes into account the uncertain financial policy and strategy implications for ADO following the signing of a merger agreement by Germany's Adler Real Estate AG to acquire all the shares in ADO Group Ltd., which will give it a 33% stake in Luxembourg-based ADO Properties.

The negative outlook also reflects a lack of clarity around whether ADO Properties will continue to be run as a separate and independent real estate company with its existing financial policy after the deal closure.

Moody's knows that the transaction is yet to be approved by a general meeting of ADO Group, but given the concentrated shareholdings on ADO Group level, Moody's assumes a high likelihood of the transaction to materialize.