Rating agencies evaluate the creditworthiness of companies. A rating describes the assessment of a company”s ability to meet its interest and repayment obligations in the future. The higher the rating, the smaller the estimated potential risk. A company with a good rating can, as a rule, borrow money on the capital market on better terms than a company with a poor rating.

Vonovia SE has an “investment grade” rating provided on July 23 2013. This rating was sought by us and enables us to achieve our financial objectives.