trending Market Intelligence /marketintelligence/en/news-insights/trending/mKZMosHrWZuCDo4sIh8F1w2 content esgSubNav
In This List

Unibail on Fitch rating watch negative

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


Unibail on Fitch rating watch negative

Unibail-Rodamco SE's A long-term issuer default, F1 short-term issuer default, A+ long-term senior unsecured and F1 short-term senior unsecured ratings are on Fitch's rating watch negative.

Fitch said the European retail giant's plan to buy Westfield Corp., if completed, will prompt the rating agency to downgrade Unibail's issuer default rating by one notch to A-, based on Unibail deleveraging toward Fitch-adjusted loan-to-value ratio of 45% and sustained net debt to EBITDA below 10x.

The agency added that if the proposed US$15.68 billion transaction is terminated, it will remove the rating watch negative and affirm the ratings.