Namibian real estate company affirmed

A Namibia-based real estate company’s national scale long-term national rating has been kept at BBB(NA), with a stable outlook, by GCR Ratings.

Oryx Properties has been affirmed on its strong property management rigour and continued stability in its funding profile, amidst a challenging environment due to the coronavirus disease 2019 (COVID-19) crisis.

The stable outlook reflects GCR’s expectations that Oryx will sustain a stable financial position as it remains committed to a conservative balance sheet management, despite the current operating pressures.

Meanwhile, the rating agency has also kept Oryx’s short-term national scale rating at A3(NA).

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