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Brazilian property firm rated "positive" by Fitch

Date added: 28th September, 2010 at 09:08
(view all articles from September, 2010)

Categories: Property News

A Brazilian property firm has been rated B+ by Fitch Ratings, due to its reliable earnings and low vacancy levels.

BR Properties posted gross revenues of R$49.2 million (£18.2 million) for the second quarter of 2010 - an increase of 39 per cent compared with the same period in 2009.

Net income had grown by 83 per cent over 12 months to reach R$19.3 million by the end of June this year.

Fitch said: "The rating outlook for BR Properties is positive," citing the company's "predictable and consistent cash generation for lease agreements" as one of the motivations behind its evaluation.

The agency also noted the firm's "adequate capital structure", skilful management and liquidity position.

Formed in 2006, the company holds 61 commercial properties and four development projects.

According to Fitch, the business raised R$727 million with its initial public offering in March - funds it has used to invest around R$1.5 billion into the acquisition of real estate.

For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of Brazilian property.ADNFCR-1477-ID-800085739-ADNFCR

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