Bulletin: Icade Has Sufficient Ratio Buffers And Segment Diversity To Address COVID-19 Challenges In The French Office Market - S&P Global Ratings’ Credit Research

Bulletin: Icade Has Sufficient Ratio Buffers And Segment Diversity To Address COVID-19 Challenges In The French Office Market

Bulletin: Icade Has Sufficient Ratio Buffers And Segment Diversity To Address COVID-19 Challenges In The French Office Market - S&P Global Ratings’ Credit Research
Bulletin: Icade Has Sufficient Ratio Buffers And Segment Diversity To Address COVID-19 Challenges In The French Office Market
Published May 28, 2020
3 pages (1605 words) — Published May 28, 2020
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About This Report

  
Abstract:

PARIS (S&P Global Ratings) May 28, 2020--S&P Global Ratings today said that the expected negative effects on Icade S.A.'s office rental and development revenue growth and consolidated ratios this year due to the COVID-19 pandemic should be moderated by the company's robust first-quarter rental performance, resilient health care branch (mostly short-term care clinics), and comfortable financial cushion. Overall, we believe Icade's credit metrics should remain compatible with our current 'BBB+/A-2' ratings, with a stable outlook. EBITDA to interest coverage should remain in the 5.1x-5.3x range in 2020-2021, which is well above our 4x minimum ratio expectation for maintaining the rating. Similarly, we forecast debt to debt plus equity will increase to 44.0%-47.0% in 2020-2021, from 41.9% in 2019, but remain

  
Report Type:

Bulletin

Issuer
Icade S.A.
Sector
Global Issuers, Structured Finance
Country
France
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Icade S.A. – 2020/12/14 – US$ 500.00

Icade S.A. – 2021/12/20 – US$ 500.00

Icade S.A. – 2019/11/20 – US$ 500.00

Icade S.A. – 2018/08/30 – US$ 500.00

Summary: Icade S.A. – 2018/08/30 – US$ 225.00

Icade S.A. – 2017/08/30 – US$ 500.00

Summary: Icade S.A. – 2017/08/30 – US$ 225.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Icade Has Sufficient Ratio Buffers And Segment Diversity To Address COVID-19 Challenges In The French Office Market" May 28, 2020. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Icade-Has-Sufficient-Ratio-Buffers-And-Segment-Diversity-To-Address-COVID-19-Challenges-In-The-French-Office-Market-2450206>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Icade Has Sufficient Ratio Buffers And Segment Diversity To Address COVID-19 Challenges In The French Office Market May 28, 2020. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Icade-Has-Sufficient-Ratio-Buffers-And-Segment-Diversity-To-Address-COVID-19-Challenges-In-The-French-Office-Market-2450206>
  
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