Supermarket Income REIT PLC - London-based real estate investment trust investing in property leased to grocery retailers - Fitch Ratings reaffirms Supermarket Income’s long-term issuer default rating of ’BBB+’, with a stable outlook. Fitch says rating reflects Supermarket Income’s portfolio of omnichannel superstores located in the UK and France. The portfolio benefits from long-dated leases with contractual upward-only rent increases, the rating agency says.
‘The rating is constrained by limited geographical diversification and high tenant concentration, despite the portfolio having diversified through the acquisition of Carrefour superstores in France,’ Fitch notes, however.
Current stock price in Johannesburg: R 17.95
12-month change: up 12%
Stock price in London: 78.10 pence
12-month change: up 13%
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