Fitch to Cut Unibail Rating on Westfield

The transcript discusses Westfield's market situation, including its pricing and historical stock performance. It highlights the impact of the financial crisis and recent consolidation in the mall industry. The discussion shifts to credit rating changes by SMP and market reactions following an acquisition. Unibail's better credit rating and its implications for shareholders are examined, along with the structure of the deal involving stock and cash. The transcript concludes with potential shareholder reactions once trading begins.

What was the highest price Westfield's stock reached before the financial crisis?

• 1167 Australian dollars

• 1000 Australian dollars

• 900 Australian dollars

• 1200 Australian dollars

How did the credit rating of Westfield change after the acquisition?

• From Double B to a positive outlook

• From Triple A to a stable position

• From Single A to a negative outlook

• From Triple B plus to a watch position

What percentage of the acquisition offer was in stock?

• 50%

• 80%

• 75%

• 65%

What was the immediate market reaction to Unibail's shares after the acquisition announcement?

• Shares fell by about four and a half percent

• Shares fell by about ten percent

• Shares rose by about five percent

• Shares remained stable

What is a potential concern for Westfield's shareholders after the acquisition?

• Unhappy shareholders despite an agreed deal

• Improvement in credit rating

• Decrease in company debt

• Increase in stock value