Fitch reaffirms Akropolis Group’s BB+ rating after Galio acquisition By Investing.com
Key Takeaways
- Fitch Ratings reaffirmed Akropolis Group’s BB+ rating with a stable outlook.
- The reaffirmation followed the acquisition of Galio Group, which increased the portfolio value by 30% to €1.4 billion.
- The deal significantly diversified the portfolio, reducing shopping center concentration from 96% to 73%.
- Fitch cited the company's financial stability, improved debt cost, and positive H1 2025 performance as supporting factors.
- Akropolis Group also recently issued a €350 million green bond and reported increased rental income.
International credit rating agency Fitch Ratings has reaffirmed Akropolis Group’s BB+ rating and maintained a stable outlook subsequent to the company's recent acquisition of Galio Group. The transaction substantially increased Akropolis Group’s managed real estate portfolio value by approximately 30%, growing it from €1.1 billion to €1.4 billion, while simultaneously expanding its income-producing properties from just 5 to 60. Furthermore, the acquisition successfully reduced the portfolio's concentration in shopping centers from 96% to 73% of its total value, a move praised by the CEO for demonstrating responsible growth and diversification. Fitch's assessment noted the company's strong financial stability, better average cost of debt, and positive performance in H1 2025, including rising rental income and stable footfall. This reaffirmation follows S&P Global Ratings also reaffirming the same rating for Akropolis Group last week. The company continues to show strong operational metrics, having recently issued a €350 million green bond and reporting a 5.4% year-over-year increase in consolidated rental income for the first half of 2025.
