Wereldhave was assigned Long-Term Issuer Default Rating and senior unsecured rating of ‘BBB’ from Fitch Ratings

Wereldhave N.V. ("Wereldhave”) is pleased to announce that Fitch Ratings has assigned a Long-Term Issuer Default Rating (IDR) and senior unsecured rating of ‘BBB’ to Wereldhave. The Outlook on the IDR is Stable. This public rating reflects the company's strengthened financial position and solid operational performance.

Enhanced balance sheet
Wereldhave's balance sheet has shown significant improvement, supported by the strategic acquisition of Polderplein and the related successful share issue in December 2023. These actions have strengthened the company's financial profile and reduced leverage.

Performance of Full Service Centers
The transformation of Wereldhave's shopping centers into Full Service Centers continues to yield positive results. These centers, offering a mix of retail, leisure, and essential services, have demonstrated robust performance and resilience in the current market environment.

The rating results in immediate financial benefits for Wereldhave, particularly through annualized interest savings due to rating triggers. At current debt levels, savings will initially amount to approximately € 400,000 annually.

Dennis de Vreede, CFO at Wereldhave, commented: "We are very pleased with this credit rating. Although Wereldhave does not seek access immediately to the Debt Capital Markets at this time, it remains a potential avenue going forward. Following successful access to the equity and USPP markets in 2023, Wereldhave now has even more DCM opportunities thanks to this investment grade rating.”

Attachment

• PR 22-05-2024 - Wereldhave was assigned Long-Term Issuer Default Rating and senior unsecured rating of ‘BBB’ from Fitch Ratings