“NEPI’s business profile is supported by its position as the largest owner of retail spaces in Romania”, according to the S&P representatives.
The agency will award the final rating after future analyses.
The preliminary rating allows the company to consider issuing debentures to optimize the funding sources, reads the NEPI press release. Debenture is a type of debt instrument that is not secured by physical assets or collateral, but is backed only by the issuer’s reputation.
It is the first time when the agency grants the developer a rating.
NEPI recently attracted some EUR 130 million from the Johannesburg Stock Exchange following an accelerated private placement, twice more than initially planned.
Its portfolio includes the Mega Mall and Promenada shopping malls in Bucharest, as well as important office buildings such as Floreasca Business Park or The LakeView. (source: Romania-insider.com)
