Fitch Initiates Coverage and Assigns Heimstaden AB a BB+ Rating

Fitch Ratings (“Fitch”) has today initiated coverage of Heimstaden AB (“Heimstaden”) and assigned a rating of ‘BB+’ with stable outlook. The rating takes into consideration the effect of Heimstaden Bostad’s recently announced acquisition of Akelius’ German, Swedish and Danish residential properties and operations.

This is Heimstaden’s first credit rating. Key attributes highlighted by Fitch include:

• Majority owner and manager of Heimstaden Bostad, a leading residential property company in Europe with large scale exposure to high-quality residential assets.
• Unique governance framework characterised by a shareholder agreement that controls the relationship between the institutional owners and majority owner and manager, Heimstaden AB.
• Holding company with recurring income streams from Heimstaden Bostad for debt service.

“We are very pleased to have received our inaugural credit rating from Fitch, which positively reflects Heimstaden AB’s strong position as the majority owner and manager of one of Europe’s leading residential real estate companies. Heimstaden has a strategy for sustainable growth with financial stability and this rating will contribute to improving our capital market access going forward,” said CFO Arve Regland.

Fitch today also initiated coverage of Heimstaden’s subsidiary, Heimstaden Bostad, with a ‘BBB’ rating with stable outlook.

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Contact:
Magnus Granerød, IR Manager
+47 922 38 407
ir@heimstaden.com

About Heimstaden
Heimstaden is a leading European residential real estate company that buys, develops, and manages homes. Through our values Care, Dare and Share, we create value for owners and Friendly Homes for customers. We own about 116,000 homes with a property value of SEK 187 billion. Read more at www.heimstaden.com. 

Heimstaden's preference shares are listed on Nasdaq First North Growth. Certified Adviser is Erik Penser Bank aktiebolag, +46 8-463 83 00 / certifiedadviser@penser.se.

This information is such that Heimstaden AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact persons, for publication on 27 September 2021 at 12:20 CET.