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Moody's changes Samhällsbyggnadsbolaget i Norden outlook to positive

Moody's affirmed Nordic property developer Samhällsbyggnadsbolaget i Norden AB (publ)'s corporate family rating at B1, and changed the outlook to positive from stable.

According to a note, the rating reflects the company's solid, low-risk revenue streams from Swedish residential properties; Nordic community service properties and public tenants; and its diverse tenant base and property portfolio. The company also has a long lease maturity on an almost fully occupied portfolio and good deal-sourcing capabilities.

The outlook reflects Moody's belief that the company's liquidity is improving and that its fixed-charge coverage will come to around 2.0x, as the company slows down its capital markets activity.