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Fitch Ratings assessed the latest transaction of Akropolis Group: the acquisition of Galio Group leaves the company with the rating BB+ with a stable outlook

Written by Customer Service on . Posted in Public Companies.

The international credit rating agency Fitch Ratings evaluated the transaction of acquisition of the real estate development and management company Galio Group carried out by Akropolis Group last week and re-confirmed the long-term borrowing rating BB+ with a stable outlook, granted to Akropolis Group. This rating was first granted to Akropolis Group in 2021.

“The re-confirmation of the rating after the Galio Group acquisition transaction serves as a significant message: we grow responsibly, increase the portfolio diversification and consistently follow the sustainable financial policy. This adds to the trust in our long-term growth prospects and the chosen direction,” comments Gabrielė Sapon, the CEO of Akropolis Group.

In its evaluation of the financial situation and business prospects of Akropolis Group after the acquisition of Galio Group, the international credit rating agency Fitch Ratings pointed out financial stability, which is brought about by the better average cost of debt, increased number of real estate objects that allow generating stable income, sustainable financial indicators. The agency also noted the increased value of the portfolio of real estate under management and the broader diversification of this portfolio across real estate classes.

After the acquisition of Galio Group, which is in the business of development and management of commercial and residential real estate, the value of the real estate portfolio managed by Akropolis Group grew by approx. 30% – from EUR 1.1 billion to EUR 1.4 billion, and the number of income producing properties increased from 5 to 60. After this diversification of the company’s real estate portfolio, the concentration of shopping centres in it decreased from 96% to 73% of the portfolio value.

Fitch Ratings’ credit rating re-confirmation report also notes positive performance by the company in the first half of the year – growing rental income, increase in the figures of the tenants’ sales, stable footfall in the shopping centres and low vacancy rates of rented premises.

Akropolis Group was first rated by the international rating agencies S&P Global Ratings and Fitch Ratings in May 2021.

Last week, S&P Global Ratings, having assessed the impact of the Galio Group acquisition transaction, which was still ongoing at the time, on the financial stability of Akropolis Group and its development prospects, also re-confirmed BB+ rating with a stable outlook.

In May 2025, Akropolis Group successfully placed its first EUR 350 million 5-year green bond issue with 6.000% annual interest. The bonds of Akropolis Group are currently listed on Nasdaq Vilnius and Euronext Dublin stock exchanges.

The consolidated rental income of Akropolis Group amounted to EUR 46.3 million in the first half of 2025 and grew by 5.4% compared to the first half of 2024, and its earnings before interest, tax, depreciation, and amortisation (EBITDA) were EUR 44.3 million or 3.4% more than for the same period last year.

For more information: 
Paulius Pocius 
Head of Marketing and Communications 
AKROPOLIS GROUP, UAB 
+370 699 99566 
paulius.pocius@akropolis.lt

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