Anleihe Eyemaxx Real Estate AG

News

• 14.08.2020
  As part of its monitoring during the year, Creditreform Rating has adjusted the SME Issue Rating of the corporate bond of Eyemaxx Real Estate AG (issuer) with ISIN DE000A2AAKQ9 from BBB- / Watch NEW to BB- / Watch NEW. Based on the ranking of the fully placed bond and the installed collateral, our calculations show a calculated repayment ratio of over 100% and thus a recovery rating of RR1, based on an average consideration of stressed scenarios and taking qualitative factors into account. Based on the current SME Issuer Rating (B-) and the recovery rating of RR1, our notching guidelines for the bond 16/21 issued by Eyemaxx Real Estate AG result in a positive notching to BB- (+3 notches). The main reasons for the decision can be found in the press release attached below.
• 10.06.2020
  Creditreform Rating has set the SME Issue Rating of the corporate bond of EYEMAXX Real Estate AG (issuer) with ISIN DE000A2AAKQ9 at BBB- / Watch NEW as part of the rating update. Due to the ranking of the fully placed bond and the installed collateral, our calculations suggest, based on average consideration of stressed scenarios and taking qualitative factors into account, a positive notching to BBB- (3 notches; previous year: 2 notches) compared to the SME Issuer Rating (BB-). The reason for the positive notching compared to the previous year is the obligation of Eyemaxx Real Estate AG to make an irrevocable and mutually signed declaration to the trustee that it intends to secure bondholders´ claims arising from the bond by providing voluntary additional collateral, thereby reducing the creditor risk. The final documentation is still pending.
• 28.04.2020
  Creditreform Rating has adjusted the outlook for the SME issuer rating of Eyemaxx Real Estate AG (BB) from stable to negative. Based on this the rating of the senior secured bond with ISIN DE000A2AAKQ9 has been adjusted from BBB- / stable to BBB- / negativ.
• 14.06.2019
  Creditreform Rating has set the corporate rating of EYEMAXX Real Estate AG unchanged to BB within the follow-up rating. The outlook is stable. Based on this the rating of the senior secured bond with ISIN DE000A2AAKQ9 has been set to BBB-, outlook stable, within the follow-up rating so that the rating remains unchanged. The ranking of the bond and the installed collateralization has led to a positive notching (2 notches) compared to the corporate rating. In this case our calculation is based on the average consideration of diverse scenarios. In addition, qualitative factors had also a positive effect on the notching.
• 19.06.2018
  Creditreform Rating has set the corporate rating of EYEMAXX Real Estate AG unchanged to BB within the follow-up rating. The outlook is stable. Based on this the rating of the senior secured bond with ISIN DE000A2AAKQ9 has been set to BBB-, outlook stable, within the follow-up rating so that the rating remains unchanged. The ranking of the bond and the installed collateralization has led to a positive notching (2 notches) compared to the corporate rating. In this case our calculation is based on the average consideration of diverse scenarios. In addition, qualitative factors had also a positive effect on the notching.
• 19.06.2017
  Creditreform Rating has set the corporate rating of EYEMAXX Real Estate AG unchanged to BB within the follow-up rating. The outlook is stable. Based on this the rating of the senior secured bond with ISIN DE000A2AAKQ9 has been set to BBB- so that the rating remains unchanged. The ranking of the bond and the installed collateralization has led to a positive notching (2 notches) compared to the corporate rating. In this case our calculation is based on the average consideration of diverse scenarios. In addition, qualitative factors had also a positive effect on the notching.