La Défense, October 05, 2023
S&P Rating Action
S&P affirms Indigo Group's BBB rating with a stable outlook following the signature of the agreement to acquire Parkia
On 05 October 2023, S&P Global Ratings affirmed Indigo Group's BBB rating with a stable outlook, following the announcement on July 31, 2023 of the signing of the agreement with Igneo Infrastructure Partners to acquire a 100% stake in Parkia Spanish Holding SLU and its subsidiaries.
This rating affirmation reflects the strengthening of the Group's business profile, given Parkia's portfolio of high-quality concession and ownership contracts, with a residual duration of around 38 years, and the Group's ability to maintain ratios, both in terms of FFO/Debt and Debt/EBITDA, in line with a solid Investment Grade rating.
For reasons of availability of funds at the closing, the Group has secured an equity bridge loan of 284 million euros with a pool of two banks - BNP Paribas and Crédit Agricole CIB - guaranteed by equity commitment letters signed by Infra Foch TopCo S.A.S shareholders (Crédit Agricole Assurances Retraite, Predica, Vauban Infrastructure Partners and MEAG) whose repayment, via equity injection in the form of ordinary shares, will only take place after closing.
The full S&P Global Ratings rating is available at Credit Rating.
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Indigo Group
| Analyst / Investor contact: | Press contact: |
| Mathieu Barnavon | Benjamin Voron |
| ir@group-indigo.com | benjamin.voron@group-indigo.com |
About Indigo Group S.A.
The Indigo Group, which owns nearly 100% of Indigo Infra, Indigo Neo and INDIGO®weel, is a global player in parking and urban mobility, managing more than 1.4 million parking spaces and their associated services in 9 countries.
Indigo Group is indirectly 49.2% owned by Crédit Agricole Assurances, through Predica SA and Crédit Agricole Assurances Retraite, 34.3% owned by Vauban Infrastructure Partners and 14.9% owned by MR Infrastructure Investment GmbH (MEAG), and 1.4% held in treasury shares and by the Group's management, and the remaining of the shares by Infra Foch TopCo S.A.S (0.2%).
www.group-indigo.com
Notice
The information contained herein has been included in good faith but is intended for general information purposes only. All reasonable precautions have been taken to ensure that the information contained herein is not false or misleading. It should not be relied upon for any specific purpose and no representation or warranty is made as to its accuracy or completeness. This press release should be read in conjunction with the information about Indigo Group S.A. (the "Company") published on its website at www.group-indigo.com.
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities. Its preparation does not constitute a recommendation regarding securities. Nothing in this document may be used as the basis for entering into a contract or agreement.
This document may contain objectives and forward-looking statements concerning the Company's financial condition, results of operations, business activities and expansion strategy. Although based on reasonable assumptions, these objectives and statements are subject to numerous risks and uncertainties, including factors not presently known to the Company or that it does not currently consider material, and there can be no assurance that the anticipated events will occur or that the stated objectives will be achieved. All forward-looking statements are the current expectations of the Company's management regarding future events and are subject to several factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The information is current only as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. Additional information about the factors and risks that could affect the Company's financial results is included in the documents filed by the Group with the Autorité des Marchés Financiers and available on its website at www.group-indigo.com.
Neither the Company nor any of its affiliates, officers or employees shall be liable for any loss, damage or expense arising out of access to or use of this document, including, without limitation, any lost profits, indirect, incidental, or consequential loss.
No part of this document may be sold or distributed for commercial purposes or modified.
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