PARIS, FRANCE: ARGAN, the only French listed real estate company specialised in the development and the rental of premium warehouses, announces it has been assigned an Investment Grade «BBB-» long-term issuer credit rating with a stable outlook by S&P Global Ratings.
ARGAN wished to initiate a financial rating process in a context of diversification and optimisation of its sources of financing, in particular with a view to access the bond market depending on market conditions. At the end of the process, S&P Global Ratings assigned to ARGAN a BBB- rating with a stable outlook.
Commenting on the above, Jean-Claude Le Lan, Founder and Chairman of the Supervisory Board said: “Achieving an Investment Grade rating is an important step in ARGAN’s development which should facilitate its growth, particularly by obtaining more favourable financing conditions on the markets. We are very pleased with this preliminary rating which reflects the quality of ARGAN’s credit profile and confirms the recognition of our leading position in the Prime logistics real estate sector”.