Moody's assigns Ba1 CFR to Summit Germany Limited; stable outlook
Rating Action: Moody's assigns Ba1 CFR to Summit Germany Limited; stable outlook. Global Credit Research- 15 Jan 2018. London, 15 January 2018-- Moody's Investors Service has today assigned a first-time corporate family rating of Ba1 to Summit Germany Limited, a publicly-listed commercial real estate company based in Germany.Summit Germany is a commercial real estate company, with a portfolio of properties mainly focused in Germany's main commercial centres. Co. owns, enhances and operates commercial real estate assets in Germany including office buildings, logistic centres and others, which are leased to commercial and industrial tenants. Co. invests primarily in such properties that provide substantial income flows and potential for value increase through asset management. As of Dec 31 2016, Co.'s aggregate portfolio comprised 100 assets, ca. 864,000 square meter (sq. m) of net lettable space, located on approximately 1,407,000 sq. m of land.
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