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VILNIUS - International credit rating agency Fitch Ratings has reaffirmed Akropolis Group’s BB+ rating with a stable outlook following the company’s acquisition of real estate developer Galio Group last week, according to a press release statement.
The acquisition has increased Akropolis Group’s managed real estate portfolio value by approximately 30%, from €1.1 billion to €1.4 billion, while expanding its income-producing properties from 5 to 60. The transaction has also reduced the company’s concentration in shopping centers from 96% to 73% of portfolio value.
"The re-confirmation of the rating after the Galio Group acquisition transaction serves as a significant message: we grow responsibly, increase the portfolio diversification and consistently follow the sustainable financial policy," said Gabrielė Sapon, CEO of Akropolis Group.
In its assessment, Fitch highlighted the company’s financial stability, improved average cost of debt, increased number of income-generating properties, and broader diversification across real estate classes.
The rating agency also noted Akropolis Group’s positive performance in the first half of 2025, including growing rental income, increased tenant sales, stable footfall in shopping centers, and low vacancy rates.
Akropolis Group first received its BB+ rating from Fitch in 2021. Last week, S&P Global Ratings also reaffirmed the same rating for the company.
In May 2025, Akropolis Group placed a €350 million 5-year green bond issue with 6.000% annual interest. The bonds are listed on Nasdaq Vilnius and Euronext Dublin exchanges.
For the first half of 2025, the company reported consolidated rental income of €46.3 million, up 5.4% year-over-year, and EBITDA of €44.3 million, representing a 3.4% increase from the same period in 2024.
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