Fitch Ratings placed Global Logistic Properties Ltd.'s BBB+ long-term foreign-currency issuer-default rating, its BBB+ senior unsecured rating and the rating of all of its outstanding bonds of on rating watch negative pending a review of the company's proposed privatization.
The rating agency will remove the watch once the transaction is completed and it is able to assess the company's deleveraging plan.
Fitch believes the company's leverage could increase in order to finance the acquisition of its outstanding shares in January 2018, the proposed time of the privatization.
