sur TAG Tegernsee Immobilien U. Beteiligungs AG (isin : DE0008303504)
TAG Immobilien AG Rated Investment Grade by Both S&P Global and Moody's
Hamburg, 27 May 2024 - TAG Immobilien AG has received an investment grade rating from both S&P Global and Moody's. On 24 May 2024, Moody's upgraded TAG's long-term credit rating to 'investment grade, Baa3, outlook stable' from 'non investment grade, Ba1, outlook stable'. This change reflects TAG's strong operating performance and disciplined financial policy despite a challenging market environment with rising interest rates.
Moody's decision brings it in line with S&P Global, which had upgraded TAG's 'negative outlook' to 'stable' on 28 March 2024 while maintaining its 'BBB-' investment grade rating.
Martin Thiel, CFO and Co-CEO of TAG, stated, "We are pleased to now have two stable investment grade ratings again following Moody's upgrade. Despite the current interest rate environment, our German and Polish portfolios are generating sustainably positive cash flows. This underpins TAG's strong capital structure and opens up attractive financing options for refinancing and further growth."
R. H.
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