Bruneckerstraße Ost GmbH, 3,75% Besicherte Teilschuldverschreibungen 2013/2023

News

• 25.08.2023
  Creditreform Rating AG (CRA) has withdrawn the rating. The reasons for the withdrawal are explained in the press release below.
• 05.07.2022
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 12.07.2021
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 16.07.2020
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 26.07.2019
  Creditreform Rating has set the issuance rating for the bond with ISIN AT0000A10UC8 issued by Bruneckerstrasse Ost GmbH unchanged at A + with a stable outlook. Overall, we still consider the structural and operational risk to be reduced. Credit and portfolio risks are mainly determined by the creditworthiness of the commercial tenant structure of PEMA Tower headline. The performance of the tenant portfolio has improved successively. Currently, the property is fully let except for smaller storage areas and is in the stabilized phase. On the basis of the currently prepared valuation report, the LTV ratio of the relevant financing is approx. 58.3%. Taking into account the terms of significant lease agreements as well as the stabilizing effects of the tenant structure, the bond should be eligible for refinancing in 2023, at maturity. Even in stressed scenarios the cash flow analysis shows that all obligations are covered under the senior secured bond.
• 20.07.2018
  Creditreform Rating has set the rating of the bond with ISIN AT0000A10UC8, issued by Bruneckerstraße Ost GmbH, to A+ with stable outlook. Overall, we consider the structural and operative risks to be reduced. Credit and portfolio risks are mainly determined by the creditworthiness of the commercial tenant structure of PEMA Tower headline. The performance of the property has gradually improved, however, it remains below the targeted level as a result of various effects. The annual valuation reports show an improvement of the LTV ratio. Taking into consideration the duration of significant lease agreements as well as the stabilizing effects of the tenant structure, the bond should be eligible for refinancing in 2023, at maturity. Even in stressed scenarios the cash flow analysis shows that all obligations are covered under the senior secured bond.