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Credit Ratings

Corporate Ratings

MOODY'S

A2/Stable

S&P GLOBAL RATINGS

A/Stable

FITCH

A/Stable

Rating for the Guaranteed Euro Medium Term Note Programme

MOODY'S

A2

S&P GLOBAL RATINGS

A

FITCH

A

Key Credit Metrics

  Mar 2022(1) Mar 2021(1) Mar 2020(1) Mar 2019(1) Mar 2018(1)
Net debt / EBITDA 5.6x 4.5x 3.3x 2.4x 1.9x
EBITDA interest coverage 8.3x 8.1x 8.2x 10.7x 8.5x
Net debt / investment properties 21.9% 18.1% 13.8% 8.0% 6.9%
Net debt / (Net debt + equity) 22.0% 18.4% 14.3% 11.3% 16.3%

Note:
(1) Figures are based on reports of rating agencies.

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