Over half a million Lithuanian and Latvian residents visited the shopping centres Akropolis during the big sale days JamamMore
S&P Global Ratings positively revised the outlook of Akropolis Group’s credit rating BB+ to stable
The international credit rating agency S&P Global Ratings (S&P) has positively revised the credit rating outlook of Akropolis Group, the leading shopping and entertainment centre development and management company in the Baltic countries.
S&P announced on 26 October that it had revised the BB+ outlook on the issuer’s long-term credit rating to stable, which until then was negative.
“For over one and a half year we are operating in a truly complex pandemic environment, therefore such an assessment by an international rating agency shows that “Akropolis Group”, being one of the core subsidiaries of “Vilniaus Prekyba”, successfully addresses the faced challenges, and our business model is sustainable and resilient to external factors. The Group demonstrates strong and stable financial results, as well as strong and healthy rent collection rate.” - says Manfredas Dargužis, CEO of Akropolis Group. “The development of Akropolis Group through the on-going acquisition of the Alfa shopping centre in Riga, Latvia and the restart of the conversion project - the development of the multifunctional complex Akropolis Vingis in Vilnius – confirms that we firmly believe in the shopping and entertainment centre market and its future potential,”
S&P first rated Akropolis Group on 19 May 2021.
Last week S&P has also positively revised Maxima Grupe‘s BB+ credit rating outlook to stable. Maxima Grupe is the core subsidiary of Vilniaus Prekyba, which is the sole shareholder of Akropolis Group.
In May of this year, the rating agency Fitch Ratings (Fitch) assigned Akropolis Group a long-term issuer rating BB+ with a stable outlook.
In June this year, Akropolis Group successfully placed its debut 300 million euro 5-year bond issue with an annual interest rate of 2.875%. Akropolis Group bonds are listed on the Nasdaq Vilnius and Euronext Dublin stock exchanges.
Other newsAll news
The Vilnius City Municipality approved the design proposals for the multifunctional complex Akropolis VingisMore
Swedbank, together with OP Bank, refinanced a previous loan of Ozo turtas, a company which manages Akropolis VilniusMore
In the first half of the year Akropolis Group’s tenants’ turnover exceeded the pre-pandemic levelsMore
Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis GroupMore
Design proposals of multifunctional complex Akropolis Vingis, planned in Vilkpėdė district in Vilnius, were presented to the publicMore
Akropolis Vingis: former industrial area in Vilnius's Vilkpėdė district will become a new quarter of the cityMore
Vilnius Regional Council of Architects has positively evaluated the architectural idea of the multifunctional complex Akropolis Vingis planned in Vilkpėdė district in VilniusMore
Design of the multifunctional complex Akropolis Vingis presented to the Council of ArchitectsMore
Design of new building planned nearby AKROPOLIS in Klaipėda, Lithuania presented to the publicMore
Today Riga’s shopping centre "Alfa" becomes "AKROPOLE Alfa" and "Akropole" – "AKROPOLE Rīga"More
There will be two AKROPOLE shopping centres in Riga: Alfa will be renamed AKROPOLE AlfaMore
The multifunctional complex Akropolis Vingis was presented to the Vilnius Regional Council of Architects: compliments for the innovative idea and recommendationsMore
Latvian Competition Council has granted Akropolis Group an unconditional merger clearance to acquire shopping centre Alfa in Riga, LatviaMore
S&P Global Ratings positively revised the outlook of Akropolis Group’s credit rating BB+ to stableMore
Restart of the conversion project in Vilkpėdė district of Vilnius: construction of the multifunctional complex Akropolis Vingis is planned to start next yearMore