Gecina: S&P and Moody's Confirm A- and A3 Ratings, Stable Outlook
Today, S&P Global Ratings and Moody's reaffirmed their credit ratings for Gecina (A- and A3 respectively, with stable outlooks), acknowledging the strength of the Parisian real estate company's business model. This confirmation marks the eighth consecutive year.
A Quality Portfolio and Predictable Cash Flows
The rating agencies highlight three key factors justifying this reaffirmation. First, the high quality of Gecina's real estate portfolio, concentrated in central and prime locations in Paris and its region, as well as its diversified structure. Next, the robustness of cash flows, supported by high occupancy rates, positive rental revaluation outperforming indexation, and dynamic leasing activity. Finally, the group's financial discipline, combining one of the lowest loan-to-value ratios among its European continental peers, a solid liquidity profile, and rigorous management of capital allocation.
Visibility on Financing Costs
Gecina's financing strategy provides long-term visibility on the evolution of borrowing costs. The group spreads its refinancing needs over time and has hedged 72% of its debt outstanding for the period 2026-2030 under financially favorable conditions. Nicolas Dutreuil, Deputy CEO in charge of finance, emphasizes that this confirmation reflects 'sustained and long-term work based on a consistent strategic vision, allowing Gecina to preserve its flexibility under any circumstances and to navigate economic cycles with agility.'
