March 17 (Reuters) - Klepierre SA:
* At this stage, it is too early to assess the impact of cornavirus lockdown measures on the contractual obligations of the group’s tenants.
* Klépierre has active discussions with them regarding the challenges presented by Covid-19 and has already initiated stringent cost cuts in order to pass on service charge savings to them.
* In addition, the Group is actively reducing non-essential capital expenditures and non-staff operating expenses.
* Despite this challenging environment and the current difficulty in estimating the impact on Klépierre’s full-year earnings, the Group reaffirms it has a solid balance sheet and sufficient committed revolving credit facilities to cover its liquidity needs.
* Klépierre will continue to monitor the state of affairs and provides updates as the situation warrants Further company coverage: (Reporting by Sudip Kar-Gupta)
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