Mubasher: Capital Intelligence Ratings (CI) has affirmed United Real Estate Company's bond rating at “BBB”, according to a statement issued on Tuesday.
CI’s classification is attributed to the company’s good financial profile despite incurring losses in the first nine months of 2017, the statement added.
The major positives backing CI’s rating on United Real Estate’s bonds include large growing estate portfolio, the sizeable portfolio of high-end income-generating properties and hotels, and its demonstrated ability to term out existing debts, the statement said.
At the stock level, United Real Estate closed Tuesday’s session 0.69% higher at 72.5 fils.
