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METROVACESA SA

Type of ratings: Senior Secured Corporate Bond

Rating value: BBB

Outlook: No Trend

License: EthiFinance Ratings

Solicited

EthiFinance Ratings affirms Metrovacesa s bond issue rating at "BBB". This € 30MM 5-year senior secured bond issue was used to complement financing for the development of its portfolio. The issue shows a solid collateral structure that adequately covers the principal amount in circulation. Metrovacesa promises to reposition the collateral in unfavourable scenarios in order to maintain the rating associated with the issue.

Ratings

Rating action: Affirmed

Action date: 2023-04-21

Date last rating: 2023-04-21

Date first rating: 2021-05-27

Documents

Executive summary:

Methodology

Bond Rating Methodology

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