Fitch Ratings annualized recurring rev loan defaults limited

Fitch Ratings annualized recurring rev loan defaults limited

Fitch Ratings has reaffirmed Akropolis Group's long-term borrowing rating as BB+ with a stable outlook for the fifth consecutive year, underscoring the company's financial robustness. The credit rating agency highlighted the company's strong financial performance, leading positions in managed shopping centers, and low vacancy rates as key factors in maintaining this rating [1].

Akropolis Group, which was first rated by S&P Global Ratings and Fitch Ratings in May 2021, has shown consistent growth in rental income and EBITDA. In 2024, the company's rental income reached EUR 91.4 million, a 9% increase from the previous year, while EBITDA rose to EUR 87.8 million, marking a 6% increase [1]. The company's CEO, Gabrielė Sapon, noted that this positive assessment from Fitch Ratings reflects the company's stable performance and strong position in the Baltic market.

In addition to its strong financial performance, Akropolis Group has successfully placed its first EUR 350 million 5-year green bond issue with an annual interest rate of 6.000%. The bonds are listed on Nasdaq Vilnius and Euronext Dublin stock exchanges, indicating investor confidence in the company's green finance framework [1].

In contrast, Macy’s Inc. is refinancing to ease its debt obligations. The company's subsidiary offered $500 million worth of unsecured senior notes due in 2033, with proceeds used to repay approximately $587 million in maturing senior notes and cover a $175 million tender offer for other debt [2]. Fitch Ratings assigned a BBB- rating to Macy’s proposed notes, reflecting the company's industry leadership, good cash flow, and reasonable balance sheet management. However, the agency noted that Macy’s and other retailers face near-term operational challenges due to softening consumer sentiment and evolving tariff policies.

References:
[1] https://www.globenewswire.com/news-release/2025/07/14/3115026/0/en/Akropolis-Group-has-maintained-the-credit-rating-from-Fitch-Ratings-with-a-stable-outlook-for-five-years-in-a-row.html
[2] https://wwd.com/business-news/retail/macys-refinances-to-ease-debt-load-1237980233/