LONDON, UK: Moody’s Investor Services has improved the Tritax Big Box REIT outlook to Baa1 (positive) from Baa1 (stable) and reaffirmed the company’s long-term corporate credit rating.
This reflects the Company’s growing scale, continued focus on high-quality logistics assets, supported by even stronger sector fundamentals and the benefit of controlling and owning the UK’s largest land portfolio.
The positive outlook reflects Moody’s expectation that the Company will continue to generate growing cash flow and maintain good liquidity while retaining high occupancy levels and a balanced growth strategy. This change applies to the long-term issuer rating.
Frankie Whitehead, Finance Director, commented: “This improvement in rating outlook to positive from Moody’s is recognition of our continued strong operating performance and work that we have done over recent years to further enhance Tritax Big Box REIT plc’s financial position.
Our development pipeline provides us with a unique platform for attractive growth and performance over the long-term, with a focus on curating a logistics portfolio of the highest quality. Over the same period, the property market in which we operate has strengthened materially and we currently enjoy acutely favourable supply demand dynamics.”