S&P Global Ratings affirmed its long-term issuer credit rating on Swedish property company Samhällsbyggnadsbolaget i Norden AB at BB.
The outlook is stable.
S&P said the affirmation follows the company's amendment of the documentation of its hybrid existing instrument worth 1.00 billion Swedish kronor that led to a revision of the equity content of the instrument from low to intermediate. The company's credit metrics remain within the present rating level.
The stable outlook accounts for S&P's expectation that the company's portfolio of low-risk assets stands to benefit from high demand due to expanding populations in Sweden and Norway and undersupplied markets.
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 document referred to in this news brief can be found here.
As of March 15, US$1 was equivalent to 8.17 Swedish kronor.
