Platzer BBB- issuer rating affirmed but outlook revised from stable to negative

Nordic Credit Rating (NCR) affirmes Platzer’s BBB- issuer rating. However, the outlook is revised from stable to negative in the light of changed market conditions with increasing interest rates and higher yield requirements on properties.

Today Nordic Credit Rating (NCR) affirmed Platzer’s BBB- issuer rating. NCR has in the light of changed market conditions with increasing interest rates and higher yield requirements on properties decided to revise the outlook in Platzer’s rating from stable to negative. NCR’s decision reflects their expectation that interest coverage ratio and net loan-to-value are likely to weaken and remain at weaker levels longer than projected, although the finalisation of projects and contract indexations will contribute positively.

- Given the changed market conditions for the property sector the changed outlook is not unexpected, says Fredrik Sjudin, cfo Platzer. With continued focus on our core activities, successful lettings operations, access to liquidity and strong, long-term owners we continue with long term focus.

Platzer Fastigheter Holding AB (publ)                                    

For more information, please contact:

Fredrik Sjudin, cfo, Platzer, tel: +46 (0)721 27 77 78
Johanna Hult Rentsch, vd, Platzer, tel: +46 (0)709 99 24 05

This is information that Platzer Fastigheter Holding AB (publ) is obliged to disclose in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was released for publication on 25 October 2023 at 16:00 CEST through the agency of the contact person shown above.

Platzer Fastigheter Holding AB (publ) owns and develops commercial property worth SEK 28 billion. Platzer is listed on Nasdaq Stockholm, Large Cap.