Peach Property Group AG: Rating upgrade by FitchRatings based on improved financial profile

Zürich (pta035/13.10.2021/19:00 UTC+2) => Long Term Issuer Default Rating (IDR) upgraded from "BB-" to "BB"
=> Upgrade of Unsecured Debt Rating from "BB" to "BB+"
=> Expectation of further increase in EBITDA

FitchRatings has upgraded the long-term issuer default rating (IDR) of Peach Property Group AG, a real estate company focusing on investing and managing residential rental properties in Germany, to "BB" with a stable outlook. The unsecured debt rating was raised to "BB+", one notch below investment grade.

The upgrade reflects expected improvements in Peach Property Group's financial profile in terms of EBITDA und interest cover, combined with the improvements already achieved in its business and financial profile. FitchRatings forecasts that Peach Property Group's EBITDA will continue to improve significantly based on further increases in rental income from acquisitions made and the scalability of its operating platform. In addition, FitchRatings cites the increased diversification already achieved, larger scale and improved profitability together with a larger unencumbered asset base and thus better access to further growth capital as reasons.

Dr. Thomas Wolfensberger, CEO of Peach Property Group AG, said: "We see the upgrade of our rating also by FitchRatings as a well-founded expression of the capital market's confidence in our solidity, the scalability of our digital management platform and our further growth capacity."

"The upgrade of our company by the two leading rating agencies Fitch and S&P this week reduces the financing costs of future growth steps correspondingly and increases our room for maneuver", added Thorsten Arsan, Chief Financial Officer of Peach Property Group AG.

Contact:

Media, investors and analysts
Dr. Thomas Wolfensberger, Chief Executive Officer and
Thorsten Arsan, Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com

Media Germany
Edelman GmbH, Ruediger O. Assion
+49 (0) 221 8282 8111 | mobile: +49 (0) 162 4909624 | ruediger.assion@edelman.com

About Peach Property Group AG
The Peach Property Group is a real estate investor and developer with an investment focus in Germany. The group stands for many years of experience, competence and quality. Innovative solutions for state-of-the-art living needs, strong partnerships and a broad value chain round off the profile. The portfolio consists of high-yield portfolio properties, typically in B-cities in the catchment area of conurbations. In addition, the Group develops real estate for its own portfolio or for condominium marketing. In the latter area, the Group concentrates on A locations and properties with attractive architecture and upscale furnishings for an international clientele. Its activities span the entire value chain from evaluating locations through to acquisitions and also active asset management and property sales or lettings.

Peach Property Group AG has its registered office in Zurich and the Group is headquartered in Cologne. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer, Dr. Christian De Prati, Kurt Hardt and Klaus Schmitz.

More information at http://peachproperty.com

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Emitter:	Peach Property Group AG Neptunstrasse 96 8032 Zürich Switzerland
Contact Person:	Dr. Thomas Wolfensberger and Thorsten Arsan
Phone:	+41 44 485 50 00
E-Mail:	investors@peachproperty.com
Website:	www.peachproperty.com
ISIN(s):	CH0118530366 (Share)
Stock Exchange(s):	SIX Swiss Exchange; Free Market in Berlin, Frankfurt, Stuttgart