WebSep 11, 2024 · Fitch notes that as GLP is a private company, disclosure is mostly voluntary. GLP's ratings and leverage trajectory are reliant on its ability to maintain robust access to capital. Access to the public debt capital market appears disrupted, as evidenced from a decline in bond prices, but the company has retained stable banking access and ... WebMay 5, 2024 · Tue 04 May, 2024 - 9:39 PM ET. Fitch Ratings - Hong Kong - 04 May 2024: Fitch Ratings has assigned GLP Pte. Ltd. (GLP, BBB/Negative) proposed US dollar subordinated perpetual securities a rating of 'BB+'. The proposed securities will be issued by GLP and the company will use the proceeds of the proposed securities for refinancing a …
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Higher Leverage from Related-Party Transactions:GLP's net debt rose from USD10.3 billion at end-2024 to USD13 billion at 30 June 2024. The rise in leverage was mainly driven by USD2.6 billion in cash advances made to Bidco in this period. The cash outflow comprised two major transactions, bridge financing … See more GLP's business profile is comparable with that of Singapore-based Mapletree Industrial Trust (MIT, BBB+/Stable) and Mapletree Logistics … See more Factors that could, individually or collectively, lead to positive rating action/upgrade: Fitch does not expect positive rating action in the near term until GLP demonstrates … See more Fitch's Key Assumptions Within Our Rating Case for the Issuer: - 2024-25 recurring EBITDA (including JCE dividends) CAGR at … See more International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario (defined as the 99th percentile of … See more WebApr 30, 2024 · Fitch believes an increase in GLP's rental income will help underpin the company's ratings as visibility on cash flows from long-term contractual rental income is a key driver for Asian equity REITs and property investment companies. Changing Leverage Profile: The increase in GLP's 2024 leverage due to multiple acquisitions announced … how to say very well in spanish
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WebGLP Capital, L.P. Entity featured on Fitch Ratings. Credit Ratings, Research and Analysis for the global capital markets. People; Product; Insights; Search . Subscribe. ... Issuer: GLP Capital, L.P. Debt Level: senior unsecured Issue: USD 500 mln 5.375% bond/note 01-nov-2024. 27-Jul-2024 BBB- Review - No Action WebMar 5, 2024 · Fitch may downgrade the rating on GLP if we assess that the deleveraging plan will not be effective in reducing leverage in the coming 12 months. Good Execution Track Record: GLP has multiple funding levers, including asset sales to new funds, establishing potential China acquisition funds and income funds, syndicating new and … north lincolnshire children\u0027s social care