Rating
| Rating Agency | Rating Type | Rating | Outlook |
|---|---|---|---|
| S&P | long term rating |
BBB |
stable |
| S&P | short term rating | A-2 | |
| S&P Maalot | long term rating | iIAA+ | negative |
| S&P Maalot | short term rating | iIA-1+ | |
| Moody's | long term rating (unsolicited) | Baa1 | negative |
Grand City maintains investment-grade credit rating from Standard & Poor’s (S&P) and a unsolicited rating by Moody’s Investors Service (Moody’s), with current long-term issuer ratings of BBB and Baa1, respectively. S&P's rating is based on S&P's group rating methodology, the Company’s stand-alone credit profile (“SACP”) is bbb+. Additionally, S&P assigned GCP a short-term rating of A-2.
Credit Rating Reports
Financial Policy
- LTV limit at 45%
- Debt to debt-plus-equity ratio at 45% (or lower) on a sustainable basis
- Maintaining conservative financial ratios with a strong ICR
- Unencumbered assets above 50% of total assets
- Long debt maturity profile
- Good mix of long term unsecured bonds and non-recourse bank loans
- Maintaining credit lines from several banks which are not subject to Material Adverse Effect
- Dividend of 75% of FFO I per share