Results of Akropolis Group’s shopping centres grow - in the first half of this year, they welcomed almost 21 million visitors, whereas the turnover of tenants exceeded EUR 543 millionMore
Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis Group
The international credit rating agency Fitch Ratings re-confirmed the long-term borrowing rating BB+ with a stable outlook, granted in May 2021 to the real property management and development company Akropolis Group, the leader among shopping and entertainment centres in the Baltics.
“The last years have been challenging for the shopping centres sector – we have faced restrictions imposed during the pandemic, geopolitical unrest and rising prices of energy resources caused by it, a very high inflation. The positive assessment from the international credit rating agency shows that Akropolis Group not just successfully tackles the emerging challenges but is also resilient to the impact of external factors – the Group keeps achieving good financial results, holds a stable leading position in the market of the Baltic shopping centres,” Manfredas Dargužis, the CEO of Akropolis Group, says.
The credit rating agency Fitch Ratings, re-confirming the BB+ credit rating with a stable outlook, considered the good operating results of Akropolis Group, leading positions of the shopping centres managed by it in the cities where they operate, a low rate of vacancies in them and a moderate debt-to-EBITDA ratio. Fitch Ratings first rated Akropolis Group on 19 May 2021.
In the autumn last year, S&P Global Ratings improved the outlook of the credit rating BB+ given to Akropolis Group to a stable one and had confirmed the BB+ rating with stable outlook in June this year.
Akropolis Group currently manages shopping and entertainment centres Akropolis in Vilnius, Klaipėda and Šiauliai in Lithuania, also Akropole Alfa and Akropole Riga in Riga, Latvia. The nearest plans of the Group include the development of the new multifunctional complex Akropolis Vingis in Vilkpėdė district, Vilnius.
Last year, Akropolis Group successfully placed its debut EUR 300 million 5-year bond issue with 2.875% annual interest. The bonds of Akropolis Group are listed on Nasdaq Vilnius and Euronext Dublin stock exchanges.
Other newsAll news
Fitch Ratings confirmed BB+ credit rating with a stable outlook granted for Akropolis GroupMore
S&P Global Ratings confirmed BB+ rating with a stable outlook granted to Akropolis GroupMore
Akropolis Group has received international certificates for environmental protection and safe working environmentMore
Akropolis Klaipėda is about to change its looks: The interior design of the shopping and entertainment centre is undergoing a major revampMore
Akropolis Group’s 2022 results: the acquisition of Akropole Alfa and the cancellation of pandemic restrictions has led to increased tenants’ turnover, income and EBITDAMore
The largest Massimo Dutti shop in Lithuania and 10 more new and revamped shops in Akropolis VilniusMore
Design proposals for the transport infrastructure nearby multifunctional complex Akropolis Vingis have been presented to the publicMore
Design proposals for the planned improvements of the transport infrastructure nearby the multifunctional complex Akropolis Vingis are being presented to the publicMore
Design proposals for a new 480 m2 building planned to be constructed near the shopping and entertainment centre Akropolis Vilnius have been presented to the publicMore
Design proposals of a new 480 m2 building, planned to be constructed near the shopping and entertainment centre Akropolis in Vilnius, will be presented to the publicMore
Over half a million Lithuanian and Latvian residents visited the shopping centres Akropolis during the big sale days JamamMore
The Vilnius City Municipality approved the design proposals for the multifunctional complex Akropolis VingisMore
Swedbank, together with OP Bank, refinanced a previous loan of Ozo turtas, a company which manages Akropolis VilniusMore
In the first half of the year Akropolis Group’s tenants’ turnover exceeded the pre-pandemic levelsMore
Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis GroupMore
Design proposals of multifunctional complex Akropolis Vingis, planned in Vilkpėdė district in Vilnius, were presented to the publicMore
Akropolis Vingis: former industrial area in Vilnius's Vilkpėdė district will become a new quarter of the cityMore
Vilnius Regional Council of Architects has positively evaluated the architectural idea of the multifunctional complex Akropolis Vingis planned in Vilkpėdė district in VilniusMore
Design of the multifunctional complex Akropolis Vingis presented to the Council of ArchitectsMore
Design of new building planned nearby AKROPOLIS in Klaipėda, Lithuania presented to the publicMore
The multifunctional complex Akropolis Vingis was presented to the Vilnius Regional Council of Architects: compliments for the innovative idea and recommendationsMore
Latvian Competition Council has granted Akropolis Group an unconditional merger clearance to acquire shopping centre Alfa in Riga, LatviaMore
S&P Global Ratings positively revised the outlook of Akropolis Group’s credit rating BB+ to stableMore
Restart of the conversion project in Vilkpėdė district of Vilnius: construction of the multifunctional complex Akropolis Vingis is planned to start next yearMore