Announcements Corporate

GCR downgrades Accelerate’s national scale long-term issuer rating to BB+(ZA) and Secured Notes ratings to BBB(ZA)(EL). The Outlook on all ratings have been revised to Evolving, balancing the risks of operating performance weakness against initiatives to restore its leverage metrics and liquidity position.

Rating action Johannesburg, 8 September 2023 – GCR Ratings (GCR) has downgraded Accelerate Property Fund Limited’s (Accelerate or the REIT) national scale long-term and short-term…