S&P Upgrades BPPEH Credit Rating to BBB
Today, Standard and Poor’s (“S&P”) announced that it has upgraded Blackstone Property Partners Europe Holdings S.à r.l.’s (“BPPEH”) credit rating to BBB with a stable outlook. At the same time, S&P upgraded the rating of BPPEH’s €5 billion euro medium-term note (EMTN) programme to BBB.
The rating increase followed the BBB- (positive outlook) rating assigned by S&P in August 2018, with S&P acknowledging BPPEH’s increased scale and diversification along with its high-quality portfolio. S&P highlighted BPPEH’s commitment to its strategy of investing in high-quality assets in major European markets and gateway cities, and stated that “the successful expansion in BPPEH’s portfolio, which has enhanced the company’s scale and diversification, has improved our view of its business risk profile.” S&P added, “BPPEH’s assets should continue to generate stable and predictable income, benefiting from high occupancy rates and from the wide-ranging diversity within the portfolio.”
The full report from S&P is available on BPPEH’s website at www.bppeh.com.
Blackstone Property Partners Europe Holdings S.à r.l. (“BPPEH”) invests in high-quality, substantially stabilised real estate assets across Europe. Investments are concentrated in the logistics, residential and office sectors, with a focus on major European markets and key gateway cities. BPPEH is 100% owned by Blackstone Property Partners Europe.