Scope affirms Corem’s BBB- issuer rating, with a revised Outlook

Corem Property Group (publ) (“Corem”) has today received an updated issuer rating from Scope Ratings GmbH (“Scope”). The update affirms Corem’s BBB- rating, with a revised Outlook from Stable to Negative.
 

In the updated issuer rating, Scope emphasizes the company’s prudent measures to deleverage and reinforce the balance sheet through divestments and debt amortization. As the basis for the revised Outlook, Scope refers to the expected impact of the current macroeconomic environment on the company’s interest coverage ratio. Corem intends to remain active in the transactions market in order to enable deleverage and create conditions for long-term resilient financing.

“Corem has been proactively working over the past year to mitigate the effects of current market conditions through several successful divestments while maintaining a steady core business. This is confirmed by Scope’s updated assessment. At the same time, we will continue to prioritize efforts to ensure that we can navigate through challenging market conditions also in the future”, said Rutger Arnhult, CEO of Corem.

Corem Property Group AB (publ)


FOR FURTHER INFORMATION, PLEASE CONTACT
Rutger Arnhult, CEO, +46 70 458 24 70, rutger.arnhult@corem.se
Eva Landén, Deputy CEO, +46 10 482 76 50, eva.landen@corem.se

Corem Property Group AB (publ)
Address: P.O. Box 56085, SE-102 17 Stockholm
Visitors: Riddargatan 13 C
Reg.no: 556463-9440
www.corem.se

This press release is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.

Corem Property Group is a real estate company that in a sustainable way owns, manages and develops commercial properties in urban and growth areas. Corem Property Group is listed on Nasdaq Stockholm, Large Cap.