S&P has revised SBB’s outlook to Positive
S&P Global Ratings (“S&P”) has today revised Samhällsbyggnadsbolaget i Norden AB (publ) (“SBB”)'s rating outlook to Positive from Stable. The positive outlook reflects S&P’s view that the ratings on SBB could be raised to BBB within 12 months.
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) at 15-16x. S&P states in its report that SBB's credit metrics strengthened more than anticipated in 2020.
“We continue meet the requirements for an upgrade to BBB, and we also assess that we will have an adjusted net debt equivalent to BBB+ at the end of the first quarter 2021. This revision to a Positive outlook is the first step towards an upgrade, and then we must show that the credit metrics are sustainable. SBB continues to work with a clear focus on delivering shareholder value,” 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, email@example.com
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 1 March 2021, at 19:00 CET.
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: firstname.lastname@example.org / +46 84638300). Further information about SBB is available at www.sbbnorden.se.