Argan: S&P maintains rating, share price rises

(CercleFinance.com) - Argan shares are up over 1% on the Paris Bourse on Friday, after Standard & Poor's announced that it has maintained its investment grade rating.


The rating agency maintained its BBB- rating on the debt of the real estate company specializing in premium logistics warehouses, albeit with an outlook that remains "negative" at this stage.

This announcement comes at a time when some analysts were becoming concerned about the company's high debt.

Argan says that it believes that S&P's announcement will enable it to refinance in the best possible terms in the future, particularly between now and the maturity of its E500m bond debt in November 2026.

For the record, the group plans to reduce its net debt/Ebitda ratio to around 8x by end-2026, compared with 11x at end-2023.


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