Fitch Upgrades SBB rating to ‘BB+‘ and puts SBB on Rating Watch Positive expecting further upgrade to investment grade
According to Fitch Rating Watch Positive “reflects Samhällsbyggnadsbolaget i Norden AB (“SBB” or the “Company”)’s plan to actively manage its portfolio so that its balance shifts more towards social infrastructure (elderly care homes, group housing and schools) and residential properties. When this is completed in the short-term, Fitch expects to further upgrade the IDR to ‘BBB-' and assign a Stable Outlook (and the hybrid rated two notches lower at 'BB').“
“We will use the proceeds from the hybrid mainly for redemption of existing secured indebtedness. Board and the management of SBB have strong intention to actively manage its portfolio so that the balance shifts more towards social infrastructure (elderly care homes, group housing and schools) and rent regulated residentials focusing on the target to achieve and maintain a BBB rating,“ says Ilija Batljan, CEO and Founder of SBB.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, +46 70 518 39 67, ilija@sbbnorden.se
This information is information that Samhällsbyggnadsbolaget i Norden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on April 8, 2019, at 11:21 CET.
About Samhällsbyggnadsbolaget i Norden AB (publ)
The company’s strategy is to own, manage and develop community service properties throughout the Nordic region and rental apartments in growth regions in Sweden. Through the company's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the company an attractive long-term partner. At the beginning of 2018, SBB was named the winner of the Real Estate Company of the Year Award for 2017. The company’s series B shares (short name SBB B), D shares (short name SBB D) and preference shares (SBB PREF) are listed on Nasdaq First North Premier. Certified Adviser is Erik Penser Bank (contact: certifiedadviser@penser.se / +46 84638300). More information about the company is available at www.sbbnorden.se.