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Moody's changes ratings outlook on CA Immobilien amid merger delay

Moody's changed its ratings outlook on Austria-based real estate company CA Immobilien Anlagen AG to stable from negative.

The rating agency also affirmed its Baa2 long-term issuer rating on the company and the Baa2 ratings on its senior unsecured bonds.

The change in outlook follows IMMOFINANZ AG's recent move to suspend further negotiations on its planned merger with CA Immobilien while it considers other strategic options, including the possible sale of its 26% stake in the latter.

If the merger does go ahead, the agency expects the combined entity to have a weaker credit profile, compared to that of CA Immobilien.

Moody's expects CA Immobilien to continue to generate stable cash flow and solid liquidity, while maintaining high occupancy levels and a balanced growth strategy.