Vukile’s GCR Positive Rating Outlook
![Vukile’s GCR Positive Rating Outlook](/cdn/large_Laurence_Rapp_CEO_of_Vukile_Property_Fund_1024x739_8ad7f42abf.jpg)
On Monday, the South African property manager, valued at about R40 billion, announced that Global Credit Rating (GCR) had given it a positive rating outlook.
The Vukile Property Fund focuses on retail spaces locally and in Spain.
According to its Sens, this new outlook was “due to continued focus on growing its high-quality, diversified retail portfolio” and it “reflects the likelihood of a rating upgrade if Vukile continues to demonstrate growing cash flows off the back of very strong property performance metrics.”
While Vukile’s share price rose over 30% in the past year, and has gone up 17% since the top of the year, it slipped a little over 1% on Tuesday. This may have been in connection with a consortium’s takeover bid for Lar España Real Estate, which Vukile owns 28% of.
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