Financing activity and financial rating
Icade's financial policy is governed by conservative principles: a low debt level, a will to increase the debt average maturity in line with that of the assets, and a diversification of funding sources.
Accordingly, the group extended its access to funds to the bond market, both public and private.
Financial Ratios
| December 31st, 2018 |
|
|---|---|
| Loan to Value Ratio (LTV)¹ | 40,0% |
| Interest Coverage Ratio (ICR) | 6,00x |
(1)Loan to value = (Net Financial Debt including Mark to Market derivatives) / (Appraisal value of Property Investment Portfolio –excluding rights- + Value of Service and Property development companies)
Financial Rating
The rating agency Standard & Poor's has given Icade the following ratings :
| Long term | Short term | Since |
|
|---|---|---|---|
| Rating | BBB+ | A2 | September 2013 |