Grand City Properties SA ( (DE:GYC) ) has issued an announcement.
Grand City Properties S.A. announced that its credit rating has been downgraded by Standard and Poor’s to BBB with a stable outlook, following a similar revision of Aroundtown’s credit rating due to macro-economic uncertainties and a weakening German economy. Despite the downgrade, GCP’s operating performance is expected to remain solid, supported by positive fundamentals in the residential real estate markets in Germany and London, and the company continues to maintain a conservative financial profile with strong liquidity and robust credit metrics.
More about Grand City Properties SA
Grand City Properties S.A. is a specialist in residential real estate, focusing on value-add opportunities in densely populated areas, primarily in Germany and London. The company aims to enhance its properties through repositioning and intensive tenant management, thereby increasing occupancy and rental levels.
YTD Price Performance: -10.98%
Average Trading Volume: 172,255
Technical Sentiment Signal: Buy
Current Market Cap: €1.75B
For detailed information about GYC stock, go to TipRanks’ Stock Analysis page.