S&P confirms SBB's investment grade rating - SBB sees the possibility of a rating upgrade of S&P in connection with the Q4 report
S&P Global Ratings (“S&P”) has today confirmed Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”)'s investment grade rating BBB- with stable outlook. An upside scenario also determines which criteria must be met in order to be upgraded to BBB. SBB can ascertain that as expected the company already meets these criteria, which will be confirmed in connection with the report for the fourth quarter.
To be upgraded to BBB, SBB is required, according to S&P’s definition, to maintain an adjusted net debt in per cent of adjusted net debt plus equity (debt to debt plus equity) below 55 per cent, an interest coverage ratio (EBITDA interest cover) over 3x and a debt / equity ratio in relation to EBITDA (debt to EBITDA) below 13x. Furthermore, SBB must successfully integrate recently completed acquisitions and achieve expected synergies.
“We can now ascertain that we meet the requirements for an upgrade to BBB, and also the most important key figures for BBB+ thereafter. The rating companies work with a horizon of 12-18 months and we must have respect for the fact that revisions do not always take place in direct connection with the criteria being met. SBB continues to work with a clear focus on delivering shareholder value and we feel confident in being able to reach BBB+ in 2021. ”, says Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB.
For further information, please contact:
Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, ilija@sbbnorden.se
Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region’s leading property company in social infrastructure. The Company’s strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB’s commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company’s series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. The Company’s preference shares (ticker SBB PREF) are listed on Nasdaq First North Premier Growth Market. Certified Adviser is Erik Penser Bank (contact: certifiedadviser@penser.se / +46 84638300). Further information about SBB is available at www.sbbnorden.se.