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Moody’s alters Merlin view to negative
Moody’s Investors Service said it changed the outlook for Merlin Properties Socimi SA to negative from stable.
“We have changed the company’s outlook to negative following the expected sharper negative impact on Spanish economy relatively to other European countries such as Germany or Sweden and the more challenging operating environment for Merlin’s commercial real estate operations amid the coronavirus outbreak,” Moody’s said in a press release.
The agency affirmed the Baa2 ratings on Merlin and its senior unsecured debt as well as the Baa2 rating on the notes sold by Metrovacesa SA and assumed by Merlin.
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