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Florent Laroche-Joubert ... (+3)
  • Florent Laroche-Joubert
  • Roy Külter
  • Steven Boumans

ODDO : From caution to confidence, feedback from EPRA Conference in St...

Last week’s EPRA conference provided cautious optimism on listed European real estate. The segment offers a mix of risks and opportunities, with discounted valuations presenting attractive entry points. We downgrade Care Property Invest (Underperform vs Neutral, TP €12 vs €13.5); we lower our TPs for British Land, Landsec, Shurgard, and Xior Student Housing; we raise our TPs for URW, Wereldhave and VGP. In conclusion we favour logistics, retail, Spain, and CEE for growth, and Switzerland remains...

Roy Külter ... (+2)
  • Roy Külter
  • Steven Boumans
Roy Külter ... (+2)
  • Roy Külter
  • Steven Boumans
Carole Braudeau
  • Carole Braudeau

Credit Morning 09/18/2025

Thyssenkrupp Elevator: KONE is reportedly considering a takeover bid|Verisure launches its IPO and could become a Ba2/BB issuer|Downgrade of rating from Ba3 to B1 by Moody’s|Salt plans to raise € 680m of secured debt to acquire 45% of Monaco Telecom and refinancer the 2026 notes|

Carole Braudeau
  • Carole Braudeau

Morning Crédit 18/09/2025

Thyssenkrupp Elevator : KONE envisagerait une offre de rachat|Verisure lance son IPO et pourrait devenir un émetteur Ba2/BB|Downgrade de la note de Ba3 à B1 par Moody’s|Salt compte lever 680 m EUR de dette secured pour acquérir 45% de Monaco Telecom et refinancer les obligations 2026|

Emira Sagaama ... (+3)
  • Emira Sagaama
  • Hela Zarrouk
  • Oliver Metzger
Konrad Zomer
  • Konrad Zomer
Emira Sagaama ... (+3)
  • Emira Sagaama
  • Hela Zarrouk
  • Oliver Metzger
Konrad Zomer
  • Konrad Zomer

Moody's Ratings downgrades Eramet to B1 from Ba3; outlook remains nega...

Moody's Ratings (Moody's) has today downgraded the long-term corporate family rating (CFR) of French mining and metallurgical company ERAMET S.A. ("Eramet" or "the group") to B1 from Ba3. Concurrently, we have downgraded to B1-PD from Ba3-PD the probability of default rating (PDR) and to B1 from Ba3...

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