National Credit Agency Assigns First Time Ratings To Quantum Developments REIT

The National Credit Rating Agency (NCRA), the affiliate of Moody’s Investors Service in Bulgaria, has assigned first-time domestic credit ratings to Quantum Developments, the company announces in a press release to the media. The long-term credit rating of the company is bgBaa3 and the short-term credit rating is bgP-3. The outlook for the ratings is stable.

NCRA’s domestic ratings are opinions of the relative creditworthiness of companies within Bulgaria. The credit analysis represents an assessment of the ability and willingness of a particular entity to fulfill its financial liabilities fully and in a timely manner.

The credit rating of Quantum Developments reflects the perspectives of the company within the real estate sector. The successful implementation of the first two projects of Quantum Developments as well as the expectations for stable rent revenues in the future are a key rating factor.

In addition to its long-term projects Quantum Developments also trades with real estate, which carries a higher risk. Another constraining factor is the short history of Quantum Developments.

The financial leverage of Quantum Developments is very low, which determines the limited financial risk of the company. Our analysis indicates a satisfactory liquidity position.
The stable outlook reflects the opinion of NCRA that there are no factors which are expected to trigger a change in the credit rating of Quantum Developments in the medium term.

Quantum Developments is a company which operates under the Bulgarian legal framework of real estate investment trusts. It is focused on commercial real estate and currently owns two completed commercial centers in Sofia and Bourgas.

The National Credit Rating Agency AD is a private agency based in Sofia. Since the beginning of 2006 NCRA is the Bulgarian affiliate of Moody’s Investors Service, the leading global credit rating agency. The ratings assigned by NCRA are based on the application of Moody’s globally recognized credit rating methodologies and best practices. NCRA uses a relative rating scale from bgAaa (the strongest rating) to bgC (the weakest).

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