This re-rating reflects CEREIT’s significant progress in making logistics and light industrial properties the majority of its portfolio, in addition to its core office assets, says the agency.
Fitch Ratings has revised its outlook on Cromwell European REIT (CEREIT) to “positive” from “stable”, and affirmed its long-term issuer default rating at ‘BBB-’, according to a note dated Oct 7.
The credit rating agency has also affirmed the 'BBB-' long-term rating on the trust's outstanding EUR450 million ($643.97 million) unsecured notes due November 2025, as well as the 'BBB-' rating on its medium-term notes programme.
