The affirmation reflects Scope’s unchanged view on the company’s cash flow generation capabilities. The company’s small size and concentrated portfolio remain the main constraints. The rating has been withdrawn for business reasons.

The rating affirmation is driven by Scope’s unchanged view on the company’s cash generation capabilities despite the lower than expected occupancy rate of newly acquired Váci Green E office property.

The rating is driven by the issuer´s strong credit metrics, with adequate debt protection and Scope-adjusted loan/value expected to remain below 50%, but constrained by its smaller size and inherent lack diversification.

The issuer rating is driven by the company’s relatively strong credit metrics, benefitting from the mainly equity-financed portfolio expansion in 2019 and forecasted for 2020.