Ratings der KGAL Gruppe und physible Anleihe bestätigt

Euler Hermes Rating bestätigt die
Bonitätseinstufung der KGAL GmbH & Co. KG mit BBB-. Die führende
Marktposition als Investment- und Assetmanager für Sachwertanlagen
sowie die stabile Erlösbasis aus langfristigen Verwaltungsverträgen
sind maßgebend für die Einschätzung der Analysten. Für die kommenden
zwölf Monate erwartet die Agentur eine stabile Entwicklung des
Ratings.

Das Rating der physible Enterprise I 18/23 Anleihe der KGAL
Tochtergesellschaft physible GmbH mit einem Volumen von EUR 30 Mio.
und einer Laufzeit bis längstens 2023 wurde ebenfalls von der Euler
Hermes Rating überprüft und mit BBB bestätigt. Maßgebend für das
Anleiherating sind nach Angaben der Agentur das Emittentenrating der
KGAL GmbH & Co. KG, die angemessenen Gläubigerschutzrechte sowie die
auf Basis von Szenariorechnungen erwartete Rückführungsquote.

Die KGAL Gruppe ist ein unabhängiger Investment- und Assetmanager
mit einem Investitionsvolumen von rund 20,5 Milliarden Euro, rund 350
Mitarbeitern und konsolidierten Erträgen aus dem Dienstleistungs- und
Provisionsgeschäft von 79,4 Millionen Euro im Geschäftsjahr 2018. Der
Schwerpunkt der Investments liegt auf langfristigen
Realkapitalanlagen für institutionelle Investoren in den Assetklassen
Immobilien, Infrastruktur und Flugzeuge. Die europaweit tätige Gruppe
wurde vor 51 Jahren gegründet und hat ihren Sitz in Grünwald bei
München. Die physible GmbH ist eine 100-prozentige
Tochtergesellschaft der KGAL GmbH & Co. KG.

Die Euler Hermes Rating GmbH (Euler Hermes Rating) wurde 2001 als
unabhängige europäische Ratingagentur der Euler Hermes und Allianz
Gruppe gegründet und fokussiert sich auf das Rating von Emittenten
und Emissionen. Euler Hermes Rating ist gemäß der Verordnung (EG) Nr.
1060/2009 des Europäischen Parlaments und des Rates als Credit Rating
Agency (CRA) registriert und wird als External Credit Assessment
Institution (ECAI) bei der European Banking Authority (EBA) geführt.
Euler Hermes Rating ist eine Tochtergesellschaft von Euler Hermes
(ELE:PA), dem weltweiten Marktführer im Kreditversicherungsgeschäft.

Die Zusammenfassung des Ratingberichtes veröffentlicht die
Ratingagentur auf eulerhermes-rating.com.

Methodik

Die Ratings wurde auf Basis der aktuellen Methoden
Emittentenrating und Emissionsrating der Euler Hermes Rating GmbH
erstellt, die unter eulerhermes-rating.com veröffentlicht sind.

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