NEWRIVER REIT PLC

Capital/Financing Update • Dec 13, 2022

National Storage Mechanism | Additional information

RNS Number : 4360J

NewRiver REIT PLC

13 December 2022

NewRiver REIT plc

("NewRiver" or the "Company" or the "Group")

Fitch Affirms NewRiver REIT plc's Investment Grade Credit Ratings

Fitch Ratings ('Fitch') has affirmed NewRiver REIT plc's Long-Term Issuer Default Rating (IDR) at 'BBB' with a Stable Outlook, senior unsecured rating at 'BBB+' and Short-Term IDR at 'F2'. The senior unsecured rating applies to NewRiver's £300 million unsecured bond dated 2028.

This rating follows the recent publication of NewRiver's results for the six months ended 30 September 2022 which demonstrated continued operational resilience and balance sheet strength, with Loan to Value reduced to 33.8%, interest cover improved to 3.9x, Net Debt to EBITDA consistently low at 5.1x, interest costs fixed at 3.5%, no refinancing requirement until 2028, £95 million of cash and further available liquidity of £125 million.

Will Hobman, Chief Financial Officer commented: "In the affirmation of our investment grade credit ratings, Fitch has again recognised NewRiver's differentiated position in the UK retail market, focused on providing essential goods and services to consumers on rental terms affordable to retailers. This focus on resilient retail, alongside our best in class operating platform and the strength of our balance sheet, means we feel well positioned despite the challenging backdrop."

Fitch Ratings' Rating Action Commentary can be read in full on the Fitch Ratings website.

https://www.fitchratings.com/research/corporate-finance/fitch-affirms-newriver-reit-plc-idr-at-bbb-stable-senior-unsecured-at-bbb-09-12-2022

For further information

NewRiver REIT plc			+44 (0)20 3328 5800
Allan Lockhart (Chief Executive) Will Hobman (Chief Financial Officer)
Lucy Mitchell (Communications & Investor Relations)

FGS Global				+44 (0)20 7251 3801
Gordon Simpson James Thompson

About NewRiver

NewRiver REIT plc ('NewRiver') is a leading Real Estate Investment Trust specialising in buying, managing and developing resilient retail assets throughout the UK.

Our £0.6 billion UK wide portfolio covers 8 million sq ft and comprises 28 community shopping centres and 15 conveniently located retail parks occupied by tenants predominately focused on essential goods and services. Our objective is to own and manage the most resilient retail portfolio in the UK, focused on retail parks, core shopping centres, and regeneration opportunities in order to deliver long term attractive recurring income returns and capital growth for our shareholders.

NewRiver has a Premium Listing on the Main Market of the London Stock Exchange (ticker: NRR). Visit www.nrr.co.uk for further information.

LEI Number: 2138004GX1VAUMH66L31

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