VGP’s ‘BBB-’ Credit Rating Reaffirmed by Fitch Ratings
PRESS RELEASE
Regulated Information
Antwerp, Belgium, 4 September 2024 (07.00 a.m. CET)
VGP NV (‘VGP’ or ‘the Group’), a European provider of high-quality logistics and semi-industrial real estate, has had its credit rating reaffirmed by the Rating Agency Fitch Ratings (‘Fitch’). Fitch has reaffirmed the credit rating for VGP NV with a Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB-'. The Outlook on the rating is Stable.
Fitch stated: “The ratings reflect VGP’s continued discipline in managing development risk, from land location and price, the quality of units built, pre-lets, its development profit headroom, to completion when new properties are sold to pre-funded dedicated 50-50 joint ventures (JVs).”
For further details and the full rating report please refer to the Fitch corresponding press release on the rating agency website: /.
CONTACT DETAILS FOR INVESTORS AND MEDIA ENQUIRIES
| Investor Relations | Tel: +32 (0)3 289 1433 |
| Karen Huybrechts (Head of Marketing) | Tel: +32 (0)3 289 1432 |
ABOUT VGP
VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial properties as well as a provider of renewable energy solutions. VGP has a fully integrated business model with extensive expertise and many years of experience along the entire value chain. VGP was founded in 1998 as a family-owned Belgian property developer in the Czech Republic and today operates with a staff of circa 372 FTEs in 17 European countries directly and through several 50:50 joint ventures. As of June 2024, the Gross Asset Value of VGP, including the joint ventures at 100%, amounted to € 7.4 billion and the company had a Net Asset Value (EPRA NTA) of € 2.3 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957).
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Forward-looking statements: This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. VGP is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release considering new information, future events or otherwise. The information in this announcement does not constitute an offer to sell or an invitation to buy securities in VGP or an invitation or inducement to engage in any other investment activities. VGP disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by VGP.
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