S&P Global Ratings affirmed its ratings on Swedish real estate company Stockholms Kooperativa Bostadsförening.
Specifically, the rating agency affirmed its AA- long-term and A-1+ short-term issuer credit ratings and its K-1 Nordic regional scale rating on the company, with a stable outlook.
S&P said the ratings take into account its view of Stockholms Kooperativa's robust market position, with well-maintained and attractive properties. The company's enterprise profile continues to be supported by fundamental strength of and high demand in the Stockholm area, according to the rating agency.
S&P expects Stockholms Kooperativa to be able to finance its investments for the forthcoming years without relying on external financing, despite expected delays in upcoming projects. The rating agency expects the company to refinance about 2.0 billion Swedish kronor in loans over the next 12 months.
The stable outlook echoes S&P's expectation that Stockholms Kooperativa will preserve its credit profile by leaning on robust housing demand and its fiscal flexibility to alleviate liquidity risks.
As of May 18, US$1 was equivalent to 8.75 kronor.
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.