Report
Florent Laroche-Joubert

Carmila : Uncertainty with COVID-19

>Portfolio particularly impacted by COVID-19 - With its portfolio of shopping centres, 72% of which are in France, 23% in Italy and 6% in Spain, Carmila is currently particularly impacted by the COVID-19 crisis. This is why S&P placed the group’s BBB /A-2 rating on a negative outlook (vs stable) on Friday night.We think that only around 10-15% approximately of retailers (pharmacies, opticians, bakers, etc.) are currently open. Following the administrative measure...
Underlying
Carmila SAS

Carmila SA, formerly Cardety SA, is a France-based company that operates in the real estate investment sector. The Company is primarily engaged in the acquisition, holding and managing of commercial real estate assets for lease. The Company's real estate assets include a supermarket under the ED brand in Forges-les-Eaux, a shopping center in Pau Lescar, a retail park in Mondeville, a shopping mall in Besancon Chalezeule, a building complex in Salaise-sur-Sanne and a business park project in Quetigny.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Florent Laroche-Joubert

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