S&P Global Ratings affirmed Swedish public sector housing company Stockholms Kooperativa Bostadsförening's long-term issuer rating at AA- and short-term issuer rating at A-1+, with a stable outlook.
The ratings reflect, among other factors, Stockholms Kooperativa's strong market and debt position and its well-maintained and fully leased portfolio, mainly in Stockholm.
S&P Global Ratings projects the company will refinance roughly 2.0 billion kronor of loans over the next 12 months, while its yearly capital expenditure is expected to be about 520 million kronor on average over the 2019-2021 period.
The stable outlook indicates Ratings' view that strong demand and financial flexibility will support Stockholms Kooperativa's development and mitigate risks related to the company's moderate liquidity position.
As of May 20, US$1 was equivalent to 9.66 Swedish kronor.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.