Moody's Ratings assigns Baa3 instrument rating to TAG's proposed bond
Moody's Ratings (Moody's) has today assigned a Baa3 rating to the proposed €500 million senior unsecured notes issued by TAG Immobilien AG (TAG or the company). The upcoming bond issuance has no impact on the short-term and long-term issuer ratings of TAG and its commercial paper programme rating. T...TAG Immobilien is engaged in the acquisition, development and management of residential real estate as well as property sales. Co. operates within two segments: residential and commercial. Co.'s residential property portfolio is concentrated in the regions of Thuringia / Saxony, the greater metropolitan areas of Berlin and Hamburg, and the Salzgitter and North Rhine-Westphalia regions while its commercial portfolio is situated in locations such as Hamburg, Berlin and Munich. As of Dec 31 2013, Co.'s portfolio consisted of 70,587 units and comprised of 4,582,344 sq. m. of floor area.
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