HR Ratings sees a "stable" outlook for Fibra Shop

Credit rating agency HR Ratings changed FIBRA Shop's outlook from "negative" to "stable" due to improved cash flow generation and higher occupancy rates in its shopping centers.

HR Ratings is one of the most important global credit rating agencies. Photo: Monitor Económico.

01/10/2023

Credit rating agency HR Ratings has changed the outlook for FIBRA Shop from "negative" to "stable" due to the expectation of improved cash flow generation until 2027. This is attributed to the stabilization of recently implemented projects and a higher occupancy rate in its shopping centers.

"The affirmation of FIBRA Shop's rating is based on the expected stability in the generation of free cash flow (FCF) for the projected period between 2023 and 2027, with an average of 1.666 billion pesos. This is driven by the results reported during the last twelve months until the third quarter of 2022 (3Q22)," the analysis states.

The trust fund added that the improved operational results are a result of higher occupancy levels, with a weighted occupancy rate of 93.5% in 3Q22 compared to 92.5% in the same period of 2021.

Read the full article (in Spanish).

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