Fitch reaffirms Sirius' BBB credit rating

LSE (GBP) Share Code: SRE

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius", the "Group" or the "Company")

FITCH REAFFIRMS SIRIUS' BBB INVESTMENT GRADE CREDIT RATING AND STABLE OUTLOOK

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., announces that Fitch Ratings has reaffirmed the Company's Long-Term Issuer Default Rating (IDR) and senior unsecured rating at BBB, with a 'Stable Outlook'.

In explaining its rating decision, Fitch highlighted the high yielding nature of the Company's assets, its resilient occupancy and rental growth due to active asset management, as well as the affordability of the Company's rents. Fitch also noted Sirius' ability to utilise its in-house digital platform to attract tenants, secure viewings and promote occupancy, while referencing the Company's enhanced financial profile, with net debt/EBITDA improving to 6.0x at FYE24 (financial year to end-March).

Sirius will announce its half year results for the six months ended 30 September 2024 on Monday 18 November 2024.

Chris Bowman, Chief Financial Officer at Sirius Real Estate, said: "Fitch's decision to reaffirm Sirius' investment grade credit rating at BBB is another positive endorsement of the strength of our operating platform, the quality of our portfolio, as well as the resilience and growth potential of our rental income."