IGD withdraws from the contract with Moody’s
Today, Immobiliare Grande Distribuzione SIIQ S.p.A. notified Moody’s Investors Service Ltd of its decision to withdraw from the existing contract regarding the ratings assigned to the Company. This decision is aimed at rationalizing the resources dedicated to rating and making this activity more efficient. The Company will continue to be rated by two leading agencies: […]
Publication of the updated corporate by-laws
Bologna, 9 November 2020. IGD – Immobiliare Grande Distribuzione SIIQ S.p.A., (“IGD” or the “Company”), one of the main player owner and manager of retail shopping centers in Italy and listed on the STAR segment of the Italian Stock Exchange, advises that today has been published the minutes of the Board of Directors held on […]
Results as at 30 September 2020
More than 90% of the tenant negotiations finalized in Italy; all negotiations in Romania completed. Total rent collection[1] in the nine months, net of deferrals granted, at around 88% Recovery of footfalls at about 87% and September retailers’ sales reached 97% of 2019 level Net rental income: €89.7 million (-12.2%), including the estimated one-off impact […]
Fitch confirms IGD’s BBB- investment grade rating – 76% of the rents for the first 8 months have been collected – 85% of the negotiations with tenants in Italy have been completed
IGD – Immobiliare Grande Distribuzione SIIQ S.p.A. – announces that Fitch Ratings Ltd. confirmed the BBB- investment grade rating with negative outlook removing it from Rating Watch Negative: “The rating assigned reflects the rent collection rates which were higher than what Fitch estimated at the beginning of April, together with the commercial strategy adopted that […]
IGD SIIQ SpA: €36.3 million loan obtained from MPS, guaranteed by SACE as part of the garanzia Italia program
IGD has signed an agreement with Banca Monte dei Paschi di Siena for a 6-year €36.3 million loan, guaranteed by Sace as part of the Garanzia Italia program (the rate, including the cost of the government guarantee, is in line with the Group’s average cost of debt).
Liquidity enhancement program concluded: treasury shares sold
In light of the resolution approved during the Ordinary Shareholders’ Meeting held on 11 June 2020 which revoked the prior authorization granted on 10 April 2019 for the purchase of treasury shares, Immobiliare Grande Distribuzione SIIQ S.p.A.’s liquidity enhancement program was terminated and, therefore, the contract with the broker Kepler Cheuvreux SA, which expired on […]