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S&P affirms Atrium European's issuer credit ratings

S&P Global Ratings affirmed its BBB- long-term issuer credit rating on Atrium European Real Estate Ltd., with a stable outlook.

The rating agency also affirmed the BBB- issue rating on the company's unsecured notes and revised Atrium's stand-alone credit profile to bbb- from bbb.

Ratings said Atrium's financial risk profile is converging with its long-term financial policy of loan to value below 40%. It added that Atrium's disposal of weaker assets and its exit from the underperforming markets of Romania and Hungary led to improved asset quality over the past three years.

The stable outlook reflects Ratings' view that Atrium's income-generating property portfolio will generate consistent cash flows in the next 12 months.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.