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BRIEF-Klepierre: hard to estimate coronavirus impact on earnings but group has solid balance sheet and liquidity

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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