TEL-AVIV, ISRAEL, May 13, 2013 (GLOBE NEWSWIRE) -- Gazit-Globe (TASE:GZT) (NYSE:GZT), one of the world's leading multi-national real estate companies focused on the acquisition, development and redevelopment of supermarket-anchored shopping centers, announced today that the credit rating agency S&P Maalot has upgraded its Domestic Credit Rating from ilA+ to ilAA- with a Stable Outlook. Below are a few highlights from S&P Maalot's report on the Company:
- Sustained reduction in financial leverage and continued improvement in the financial profile in line with the group's strategy have led to a marked improvement in leverage and coverage ratios.
- The group's activities have shown improvement both in levels of income and in operating performance of the subsidiaries, while its asset portfolio has increased.
- The stable outlook reflects our assessment that the group will continue to pursue policies and steps that will support continued improvement in its financial profile while maintaining adequate liquidity and operating stability.
|FOR ADDITIONAL INFORMATION|
|A comprehensive copy of the Company's annual report is available on Gazit-Globe website at www.gazit-globe.com|
|Investors Contact: IR@gazitgroup.com, Media Contact: email@example.com|
|Gazit-Globe Headquarters, Tel-Aviv, Israel, Tel: +972 3 6948000|
CONTACT: Gazit-Globe Ltd. 1 HaShalom Rd. Tel Aviv, Israel 67892 +972 3 694 8000 For additional information: Gil Kotler, Senior Executive VP and CFO