Euler Hermes Rating bewertet KGAL Gruppe mit BBB-

Hamburg (ots) - Euler Hermes Rating hat erstmals die Bonität der
KGAL GmbH & Co. KG bewertet und ein BBB- Rating erteilt. Die führende
Marktposition als Investment- und Assetmanager für Sachwertanlagen
sowie die stabile Erlösbasis aus langfristigen Verwaltungsverträgen
waren maßgebend für die Einschätzung der Analysten. Für die kommenden
zwölf Monate erwartet die Agentur eine stabile Entwicklung des
Ratings.

Hinsichtlich der strategischen Risiken sieht Euler Hermes Rating
Einschränkungen der Diversifikation der Erlösquellen durch die
Fokussierung der Gruppe auf institutionelle Investoren und das hohe
Gewicht von Immobilieninvestitionen. Marktrisiken bestehen nach
Einschätzung von Euler Hermes Rating durch zyklische Einflüsse des
Zins- und Investitionsumfelds sowie den zunehmenden Wettbewerb um
Anlageobjekte. Zusammenfassend bewertet die Ratingagentur das
Geschäftsrisiko der KGAL GmbH & Co. KG als leicht erhöht bis moderat.

Das Finanzrisiko stellt sich nach Meinung der Ratingagentur
aufgrund der hohen und nachhaltigen Ertragskraft, der guten
Kapitalstruktur sowie der angemessenen finanziellen Flexibilität als
moderat bis gering dar. Verbesserungspotentiale bestehen nach Meinung
der Analysten im operationellen Bereich hinsichtlich der
unterjährigen Finanzkommunikation der Gruppe.

Die KGAL Gruppe ist ein unabhängiger Investment- und Assetmanager
mit einem Investitionsvolumen von rund 22,7 Milliarden Euro, rund 340
Mitarbeitern und konsolidierten Erträgen aus dem Dienstleistungs- und
Provisionsgeschäft von 72,7 Millionen Euro im Geschäftsjahr 2017. Der
Schwerpunkt der Investments liegt auf langfristigen
Realkapitalanlagen für institutionelle Investoren in den Assetklassen
Immobilien, Infrastruktur und Flugzeuge. Die europaweit tätige Gruppe
wurde vor 50 Jahren gegründet und hat ihren Sitz in Grünwald bei
München.

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

Dieses Rating wurde auf Basis der aktuellen Methode
Emittentenrating der Euler Hermes Rating GmbH erstellt, die unter
eulerhermes-rating.com veröffentlicht ist.

© 2018 Euler Hermes Rating GmbH ("EHRG") and/or its licensors and
affiliates. All rights reserved. CREDIT RATINGS ISSUED BY EHRG ARE
EHRG'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF
ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND
EHRG'S PUBLICATIONS MAY INCLUDE EHRG'S CURRENT OPINIONS OF THE
RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT
OR DEBTLIKE SECURITIES. EHRG DEFINES CREDIT RISK AS THE RISK THAT AN
ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY
COME DUE AND, IN THE CASE OF ISSUANCE-LEVEL CREDIT RATINGS, ANY
ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO
NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY
RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND
EHRG'S OPINIONS INCLUDED IN EHRG'S PUBLICATIONS ARE NOT STATEMENTS OF
CUR-RENT OR HISTORICAL FACT. CREDIT RATINGS AND EHRG'S PUBLICATIONS
ARE NEITHER A PROSPECTUS NOR A SUBSTITUTE FOR INFORMATION ASSEMBLED
AND PRESENTED BY COMPANIES OR ISSU-ERS FOR INVESTORS REGARDING THE
PURCHASE OF A SECURITY OR FOR ASSESSING THE CREDITWORTHINESS OF A
RATED ENTITY. CREDIT RATINGS AND EHRG'S PUBLICATIONS DO NOT
CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND DO NOT
PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR
SECURITIES. NEITHER CREDIT RATINGS NOR EHRG'S PUBLICATIONS COMMENT ON
THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. EHRG
ISSUES ITS CREDIT RATINGS AND PUBLISHES ITS PUBLICATIONS WITH THE
EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE,
CONDUCT ITS OWN INDEPENDENT ANALYSES, CREDIT ASSESSMENTS AND OTHER
VERIFICATIONS AND EVALUATIONS OF EACH SECURITY THAT IS UNDER
CONSIDERATION FOR PURCHASE, HOLDING, OR SALE. EHRG'S CREDIT RATINGS
AND EHRG'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS
AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO
USE EHRG'S CREDIT RATINGS OR EHRG'S PUBLICATIONS WHEN MAKING AN
INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR
OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS
PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND
NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED,
RE-PACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED,
REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH
PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS
WHATSOEVER, BY ANY PERSON WITHOUT EHRG'S PRIOR WRITTEN CON-SENT.

All information contained herein is obtained by EHRG from sources
believed by it to be accurate and reliable. Because of the
possibility of human or mechanical error as well as other factors,
however, all information contained herein is provided "AS IS" without
warranty of any kind. EHRG adopts all necessary measures so that the
information it uses in assigning a credit rating is of sufficient
quality and from sources EHRG considers to be reliable including,
when appropriate, independent thirdparty sources. However, EHRG is
not an auditor and cannot in every instance independently verify or
validate information received in the rating process or in preparing
the EHRG publications.

Please note that summaries of contracts, laws and other documents
contained in any EHRG publication, rating report or other materials
cannot replace careful study of the relevant complete texts. EHRG and
its directors, officers, employees, agents, representatives,
licensors and suppliers disclaim liability to any person or entity
for any indirect, special, consequential, or incidental losses or
damages whatsoever arising from or in connection with the information
contained herein or the use of or inability to use any such
infor-mation, even if EHRG or any of its directors, officers,
employees, agents, representatives, licensors or suppliers is advised
in advance of the possibility of such losses or damages, including
but not limited to: (a) any loss of present or prospective profits or
(b) any loss or damage arising where the relevant financial
instrument is not the subject of a particular credit rating assigned
by EHRG. The limitations do not apply to the extent that fraud,
intent or any other type of liability cannot be excluded and/or
limited under applicable law.

EHRG and its directors, officers, employees, agents,
representatives, licensors and suppliers disclaim liability for any
direct or compensatory losses or damages caused to any person or
entity, on the part of, or any contingency within or beyond the
control of, EHRG or any of its directors, officers, employees,
agents, representatives, licensors or suppliers, arising from or in
connection with the information contained herein or the use of or
inability to use any such information. The limitations do not apply
to the extent that fraud, intent or any other type of liability
cannot be excluded and/or limited under applicable law.

NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS,
COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE
OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE
BY EHRG IN ANY FORM OR MANNER WHATSOEVER.

The dissemination and use of an EHRG rating report may be
prohibited by law in certain jurisdictions. Any persons who come into
the possession of such information should inquire about and comply
with any prohibitions that may be in place. EHRG assumes no liability
of any kind with respect to such dissemination and use of any rating
in any jurisdiction whatsoever. Euler Hermes Rating GmbH



Pressekontakt:
Frank Wittich-Böcker - frank.wittich-boecker@eulerhermes-rating.com
Friedensallee 254
22763 Hamburg
Tel.: 040 8834-640
Fax: 040 8834-6413
www.eulerhermes-rating.com

Original-Content von: Euler Hermes Rating GmbH, übermittelt durch news aktuell

Schlagwörter

Investmentfonds , Finanzen , Bonität , Hamburg ,