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Scope Ratings assigned BBB-/Stable rating to Globe Trade Centre S.A. and its subsidiary GTC Real Estate Development
GLOBE TRADE CENTRE S.A.
(Incorporated and registered in Poland with KRS No. 61500)
(Share code on the WSE: GTC.S.A)
(Share code on the JSE: GTC ISIN: PLGTC0000037)
(“GTC” or “the Company”)
Current report number: 30/2020
Date: 12 November 2020
Subject: Scope Ratings assigned BBB-/Stable rating to Globe Trade Centre S.A. and its
subsidiary GTC Real Estate Development Hungary Zrt.
The Management Board of Globe Trade Centre S.A. ("Company"), hereby announces that on 12
November 2020, Scope Ratings (“Scope”) assigned a first-time issuer rating of BBB-/Stable to Globe
Trade Centre S.A. and its subsidiary GTC Real Estate Development Hungary Zrt. The senior unsecured
debt rating is BBB-.
The rating is driven by GTC's market positioning in Central Eastern (CEE) and Southeastern Europe
(SEE). The company benefits from a well located, relatively young property portfolio, which helps to
attract blue-chip tenants, keeping occupancy high and supporting both stable cash flow and credit
metrics.
Definitions of Scope’s ratings are available at the following website: https://www.scoperatings.com,
where Scope also discloses ratings, criteria and methodology.
The rating report is available on https://www.scoperatings.com/#!search/research/detail/165566EN
Legal grounds: § 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council
of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the
European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and
2004/72/EC – inside information.
Neither this current report nor the ratings issued by Scope constitute a recommendation to buy, hold,
and/or sell securities and/or other financial instruments issued or relating to the Company and/or make
any other investment and/or forgo any of these actions.
Neither this current report nor the ratings issued by Scope constitute investment advice and/or financial
advice, nor do they address the appropriateness of any given investment for any specific investor, in
particular retail investors. Each potential investor should seek and obtain professional advice in respect
of his/her investments.
This current report is neither an offer of securities for sale, nor a solicitation of an offer to
purchase/subscribe for securities, in any jurisdiction.
Signed by:
/s/ Yovav Carmi /s/ Ariel Alejandro Ferstman
President of the Management Board Member of the Management Board
Warsaw, Poland
Sponsor: Investec Bank Limited
Date: 12-11-2020 10:45:00
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