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S&P affirms issuer credit ratings on Sweden's AB Stangastaden

S&P Global Ratings affirmed its long- and short-term issuer credit ratings on AB Stångåstaden at AA-/A-1+, with a stable outlook.

The rating agency also affirmed its Nordic regional scale rating on the company at K-1.

S&P attributed the affirmation to the expectation that the Swedish housing company's debt will remain manageable, despite an increase in capital expenditure, through prudent debt management, stable earnings and use of asset disposals as an alternative source of funding.

In addition, S&P believes the joint capital markets program set up by the municipality of Linköping, or Linkopings Kommun, which owns Stångåstaden, will not hinder the company's financial independence.

The stable outlook reflects S&P's expectation that Stångåstaden will maintain sufficient financial buffers to mitigate the impact of increasing debt over the rating agency's forecast period.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.