This report does not constitute a rating action. MADRID (S&P Global Ratings) Sept. 18, 2024--S&P Global Ratings said today that CTP N.V.'s recently completed €300 million equity increase provides financial flexibility and creates headroom under our current rating thresholds, thus enabling CTP to fund its plans to grow through additional development projects and opportunistic acquisitions. Europe-based logistics real estate player CTP N.V. (BBB-/Stable/--) continues to expand its portfolio toward 20 million square meters (sqm), its target for 2030, from 12.4 sqm as of end-June 2024. In our view, the equity raise will give it the financial flexibility to advance these plans. The transaction will also mean an immediate improvement in CTP's credit metrics, but we don?t expect a material deviation
