Business
STANDARD & POOR'S UPDATES CREDIT RATING
STANDARD & POOR'S UPDATES CREDIT RATING.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 0751T Plaza Centers N.V. 14 November 2013 \n \n\n14 November 2013 \n \nSTANDARD & POOR'S UPDATES CREDIT RATING FOR PLAZA CENTERS' NOTES\n \n \nPlaza Centers N.V. (\"Plaza\" or the \"Company\"), a leading property developer and investor with operations in Central and Eastern Europe and, India, today announces that S&P Maalot (\"Maalot\"), the Israeli credit rating agency which is a division of International Standard & Poor's, has updated the credit rating of Plaza's two series of Notes from \"ilB\" to \"D\". The update follows the Company's announcement earlier today that it will withhold payment on the upcoming maturities of its Israeli and Polish bonds and will approach the creditors of the Company with a restructuring plan in a formalized restructuring process.\n \nA full copy of S&P Maalot's report is available at: http://www.plazacenters.com/index.php?p=financial_reports_2013. (Currently in Hebrew; an English translation will be available shortly).\n \nFor further details, please contact:\nPlaza\nRan Shtarkman, President and CEO +36 1 462 7221\nRoy Linden, CFO +36 1 462 7222\n \nFTI Consulting\nStephanie Highett / Nina Legge &nb...