Confirmation of Baa2 rating from Moody's

6 November 2015

Moody’s Investor Service (“Moody’s ) has confirmed its senior secured debt rating of Baa2 to Growthpoint Properties Australia (“Growthpoint” ) with a stable outlook.

In confirming its rating, Moody’s noted (among other things) Growthpoint’s:

  • Simple and transparent business model
  • Predictable and reliable rental income growth
  • Long weighted average lease expiry
  • High quality tenant profile
  • Strong profitably when compared with other real estate investment trusts
  • Low management costs
  • Strong and supportive parent (Growthpoint Properties Limited)

This rating has been confirmed on the basis of Growthpoint’s current target balance sheet gearing range of 35-45%.

The Moody's report is included in the full ASX announcement which you can download below: