Sirius Real Estate Ltd (LON:SRE) flagged that Fitch Ratings has published its first credit rating for the company, resulting in a BBB rating with a stable outlook.
In its report, Fitch alluded to the resilience of Sirus's German business park portfolio and its seventh consecutive year of like-for-like rental growth of over 5% and rent collection rates of 98% in the face of the COVID-19 pandemic.
READ: Sirius Real Estate reports strong rental growth and cash collection despite COVID-19 impact
The credit agency also highlighted financial leverage (net debt / EBITDA) and net interest cover, which are expected to stay relatively constant and compare well to other commercial real estate companies.
Among credit strengths, Fitch noted Sirus's in-house digital sales and marketing capability and highly diversified tenant base.
Sirius chief financial officer Alistair Marks said: "The investment-grade rating is a key milestone for Sirius Real Estate and will allow us to optimise and diversify our funding structure."