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      Instrument data
      Issuer
      Adler Real Estate AG
      Senority
      Unsecured
      Currency
      EUR
      ISIN
      XS1211417362
      Coupon type
      Fixed
      Instrument volume
      350,000,000
      Maturity date
      08/04/2020
      -
      WD Outlook: N/A
      WD Outlook: N/A
      Latest change
      Withdrawal
      09/04/2020
      General information
      Rating
      Public
      Solicited
      With issuer participation
      EU Rated
      Withdrawal reason: end of maturity of the debt obligation, or in case the debt is redeemed, called, prefunded, cancelled
      Tommy Träsk Lead analyst
      Olaf Tölke Committee chair
      Scope affirms issuer rating of ADLER Real Estate AG at BB, Outlook Positive

      4/10/2019 Rating announcement EN

      Scope affirms issuer rating of ADLER Real Estate AG at BB, Outlook Positive

      The neutral impact on Scope's current rating case of the process initiated by ADLER to acquire all of the shares in ADO Group Ltd. drives the affirmation.

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      Scope affirms issuer rating on ADLER Real Estate AG at BB, Outlook Positive

      16/4/2019 Rating announcement EN

      Scope affirms issuer rating on ADLER Real Estate AG at BB, Outlook Positive

      ADLER’s improved size, asset quality and profitability support the rating affirmation despite the temporary increase in leverage. Scope expects the company to reduce leverage via disposal activity, with proceeds used to pay down debt.

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      Scope affirms ADLER's ratings and changes Outlook to Positive after the acquisition of BCP

      12/4/2018 Rating announcement EN

      Scope affirms ADLER's ratings and changes Outlook to Positive after the acquisition of BCP

      The change in Outlook reflects the anticipated positive impact of the successful acquisition of 70% + one share of the share capital of Brack Capital Properties N.V. (BCP) on the company's business and financial risk profile.

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      Scope places ADLER's ratings under review for possible upgrade after announcement to acquire BCP

      26/2/2018 Rating announcement EN

      Scope places ADLER's ratings under review for possible upgrade after announcement to acquire BCP

      The review for possible upgrade reflects the anticipated positive impact of a successful acquisition of 70% + one share of the share capital of Brack Capital Properties NV (BCP) on the company's business and financial risk profiles.

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      Scope upgrades Adler’s issuer rating to BB and senior unsecured debt to BB+, Outlook Stable

      11/1/2018 Rating announcement EN

      Scope upgrades Adler’s issuer rating to BB and senior unsecured debt to BB+, Outlook Stable

      The upgrade reflects the company’s successful restructuring of debt, expected to improve credit metrics, and the disposal of the volatile trading business (Accentro) to a private partnership, which should stabilise cash flows further.

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      Scope assigns instrument ratings to capital market debt issued by Adler Real Estate AG (ADLER)

      2/9/2016 Rating announcement EN

      Scope assigns instrument ratings to capital market debt issued by Adler Real Estate AG (ADLER)

      The instrument ratings are linked to the BB- Corporate Issuer Credit Rating (CICR) of ADLER, assigned on 25 July 2016. Thus the applicable Outlook is Stable.

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      Date Title
      02/09/2016 Rating Report, September 2016