Fabege assigned investment grade rating by Moody’s (Baa3, stable outlook)
Fabege has today received an investment grade credit rating of Baa3, with a stable outlook, from Moody’s.
Fabege has been active on the capital market for many years via commercial paper, covered bonds (via Svenska Fastighetsfinansiering) and through a green unsecured MTN programme. At 31 December 2017, total financing via bonds and commercial paper amounted to just over SEK 10bn. The framework for Fabege’s green MTN programme is SEK 5bn and outstanding bonds under the programme amounted to SEK 2.7bn at year-end.
“Our ambition is to increase the proportion of capital market financing primarily via our green bond programme. The credit rating from Moody’s puts us in a better position for seeking financing on favourable terms,” said Åsa Lind, Head of Treasury at Fabege.
“We’ve now taken the next step in our financial profiling. Fabege is keen to make investors aware of our high quality and our long-term approach. We’re delighted to have received this acknowledgement of the company’s financial stability via the rating from Moody’s,” commented Åsa Bergström, Vice President and CFO at Fabege.
Fabege AB (publ)
For further information, please contact:
Åsa Bergström, Vice President and CFO, tel +46 (0)8-555 148 29, +46 (0)706-66 13 80
Åsa Lind, Head of Treasury, tel +46 (0)8-555 148 08, +46 (0)733-387 18 08
“This information is of the type that Fabege AB is required to disclose according to the Swedish Securities Market Act. The information was released for publication on 16 February 2018 at 07.50 am CET.”
Fabege are a property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege’s shares are listed on Nasdaq Stockholm, in the Large Cap segment. For more information, www.fabege.com